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As Gordon Brown urges the rest of the world to follow his lead and pump billions of pounds of tax payer’s money into the banking system you could be mistaken for thinking that he has gone from zero...
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Monday 30th June 2008
House prices have fallen by one per cent this month, Hometrack said today.
The property research company also claimed that the average price now stands at 3.2 per cent below that of June 2007.
In addition, the Hometrack data shows that new buyer registrations have fallen by over 50 per cent - providing further evidence that fewer people are willing to get on the property ladder due to the credit crunch.
Commenting on the firm's findings, Richard Donnell said: "In the short term it seems inevitable that prices will continue to post modest falls until such time as confidence improves."
Meanwhile, seperate house price statistics for May have claimed to show no change in the average property cost.
The data, from the Land Registry, puts the annual house price inflation rate at 1.8 per cent - markedly different from the Hometrack analysis.
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