House demand up but prices down
THE Hometrack house price survey shows an improvement on the position a year ago despite a challenging economic and financial backdrop.
Demand for housing has continued to grow steadily over the last six months by a total of 14 per cent. This in contrast to an 18 per cent decline in demand over 2010.
A key trend over the last six months has been the steady increase in sales volumes which continued over August with sales up 3.6 per cent. Hometrack says the overall trend in prices remains downward and average prices moved 0.1 per cent lower in August. Property in London took the shortest time to sell, six weeks, compared to over 11 weeks in Wales, North West and Yorkshire.