Prices low­est in eight months

Yorkshire Post - Property - - PROPERTY -

PROP­ERTY val­ues are at their low­est for eight months, ac­cord­ing to prop­erty por­tal Zoopla.

It has a val­u­a­tion tool which aims to track the value of ev­ery prop­erty in the UK, us­ing Land Reg­istry data, to which it ap­plies its own for­mula.

Zoopla said the tool showed that home val­ues had fallen ev­ery month since last July, and that the to­tal de­cline was 11 per cent.

Across Bri­tain, av­er­age house prices are now 18.01 per cent (£45,594) be­low their peak, with the av­er­age at £201,911 com­pared with £247,505 in Oc­to­ber 2007. The North-East has been hard­est hit over the past few months, down 14.12 per cent since last July with av­er­age lo­cal house prices now at £146,242.

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