House prices still on slide

AVERAGE house prices are now cheaper than 12 months ago – the first such drop in seven years.

Prices have fallen £5,000 in the past month to £302,023, said Rightmove.

Yorkshire and the Humber saw the biggest decline at 2.4%, followed by the South East where prices fell 2.1%.

Rightmove director Miles Shipside said: “New sellers are reacting to markets and lowering their pricing aspirations sooner.”