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Price of homes still dropping
Huddersfield Daily Examiner (Huddersfield, England), Sept 29, 2008
HOMES are selling for a record discount as house prices continue to tumble, figures showed today.
The average seller in England and Wales got just 90% of their asking price during September, the lowest level since property intelligence group Hometrack first launched its index in 2001.
The figures were supported by research from the Royal Institution of Chartered Surveyors (RICS), which said sellers in some areas of the country were accepting discounts of 12.5% of their asking price.
Hometrack said house prices fell for the 12th month in a row during September, losing a further 1% of their value, and it warned that transaction levels looked set to fall back to a level not seen since the 1960s.
The group also recorded a further fall in the number of new buyers registering with estate agents as confidence continued to be hit.
COPYRIGHT 2008 MGN Ltd.
COPYRIGHT 2008 Gale, Cengage Learning
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