House prices fell by 0.8% in December, Rightmove says

Date: Monday 16 Jan 2012

House prices in England and Wales fell by 0.8% on the month (+0.4% on the year) in January, according to property website Rightmove, to £224,060.

In December prices fell 2.7% on the month, to £225,766 (+1.5% on the year).

The above amid a wide-spread shortage of sellers, even in London, a factor which is expected to prop up prices in a “challenging” 2012.

On the other side of things, Rightmove’s early indicators of housing market activity in 2012 show that interest in buying is strong despite the lack of mortgage finance, “though the willingness or ability of new sellers to come to market remains weak.” The company cites, “record levels of search activity as value-seeking buyers face the smallest ever choice of new listings."

Forty four million searches were carried out in the first 10 days of 2012, for an increase of 27%.

Prices fell in 6 out of 10 regions. These are: West Midlands, Wales, South West, South East, East Midlands, and North.

Excluding London prices in the other nine areas fell by an average of 1.5% on the month.

AB

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