Over-supply sees house prices continue to fall

The Hometrack April survey concurs with several other reports published last week which reveal a very modest drop in house prices - of just 0.1% for the month in the case of this survey - but which also suggest that such a small reduction in house prices indicates a market that is stabilising. Hometrack says the average property now costs £162, 100 down from a peak of £167,700 in June 2004. Despite a lacklustre market, Hometrack says activity has increased this month. Sales agreed have risen by 9.4%, in part due to ongoing increases in the number of buyers registered since the beginni...