Annual house price growth falls below inflation

The LSL Property Services and Acadametrics house price index showed December's annual property price inflation was down from 5.1% the previous month and 5.3% in 2009, as prices continued their steady monthly decline. In addition, transaction numbers fell 5% in December to 53,000, 33% down on year-on-year. However, the latter figure has been skewed by the level of buyers looking to purchase before the stamp duty holiday finished at the end of 2009. Figures reveal the level of transactions in December was 43% below the long-term trend over the last 15 years of 93,800 properties sold in ...