House prices continued to fall during August, with Nationwide reporting that the total drop in house prices over the past year has been by 10.5% - the first annual double digit fall since 1990.
Member of the National Association of Estate Agents (NAEA) have reported that the current market is levelling out; however there are still signs of uncertainty.
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New sellers during July are putting their properties onto the market in at prices 2.3% (£5,403) lower than in June as they continue to fight the slowdown in the housing market.
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The average number of transactions per surveyor fell further in July as a lack of mortgage finance continued to weigh heavily on the market, the Royal Institute of Chartered Surveyors (RICS) has said.
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The house market continued to be depressed during July with a 1.7% fall in asking prices, according to the latest research from the Halifax.
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The price of a typical house fell by 1.7% in July, but have experienced their biggest annual fall since Nationwide began its housing survey in 1991.
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July saw the tenth consecutive fall in house prices this year with price falls more concentrated in southern England, Hometrack has said.
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House prices in England and Wales fell by 1% in June from May, according to figures from the Land Registry.
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The average house price in England will rise by 25 per cent over the next five years to reach £274,700, despite fears of a housing market crash – according to a new report published by the National Housing Federation.
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Latest figures reported by members of the National Association of Estate Agents (NAEA) indicate that consumers continue to remain unsure of the market.
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