Price gains ‘wiped out over year’

Yorkshire Post - Property - - PROPERTY -

HOUSE prices fell by 0.3 per cent in Novem­ber, ac­cord­ing to the Na­tion­wide.

It measn that any gains in the early, more buoy­ant part of this year have all but been wiped out, with prices now stand­ing at just 0.4 per cent higher than this time a year ago.

Martin Gah­bauer, Na­tion­wide’s chief econ­o­mist, said the rate of fall­ing house prices should now slow.

“There is lit­tle ev­i­dence to sug­gest that house price de­clines are likely to ac­cel­er­ate in the months ahead.

“Much of the weak­ness in prop­erty val­ues since the spring has been driven by a re­turn of sell­ers to the mar­ket, fol­low­ing un­usu­ally low lev­els of prop­erty for sale in 2009 and early 2010.”

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