Adverse Mortgages UK

House prices in the UK dipped again in June, figures published by the research firm Hometrack have stated.

The outfit said that year-on-year property prices are down by 3.2 per cent, while they were one per cent lower than the previous month.

Director of research at Hometrack Richard Donnell added that registrations of new home buyers have also diminished by 5.7 per cent during the month, news that may concern those with a mortgage.

He commented: "The net result is a sizeable drop in transaction volumes which look set to reach levels not seen since the 1970s."

And unless confidence is "restored" to the market quickly, he noted, then such falls are probably going to continue.

It now also takes an average of 10.3 weeks for a property being placed on the market to be sold, Hometrack revealed.

The National Landlords Association last week said that improvements to areas such as bathrooms and kitchens can make homes more attractive.

 

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