Ray of hope despite a new house-price dive

House price news, information and discussion – HousePriceCrash.co.uk

Record low interest rates may save homeowners from a property slump despite house prices showing their first annual declines in a year, Halifax said today. Its latest index showed average prices edging 0.1% lower last month to £164,708, leaving property costs 0.7% down on November last year, as sliding demand combined with more properties for sale hit the market. Prices have fallen 2.4% so far this year. But housing economist Martin Ellis said there were “tentative signs†that homeowners were becoming more reluctant to put their properties on the market, which could ease the downward pressure on prices if the trend continues. As I like to say, now they hand it out free, the Evening Standard is value for money.