Qualified advisers answering your
Financial Questions
call 0800 092 1245

March House Price Falls Steepest On Record

While the government and the Council of UK Mortgage Lenders argue over who is to blame and what needs to be done to protect the property market from the credit crunch, a damning report has been released by the Royal Institute of Chartered Surveyors. The report shows that almost 4 out of 5 estate agents saw a fall in sale prices in March which is the steepest fall since records began over 30 years ago.

The problems in the UK money markets are noted as the main reason for the unprecedented fall and while many observers are hopeful of assistance from the Bank of England in the short term, the situation is expected to get worse before it starts to recover. The basic problem is a weakening economy and lack of funding to buy properties, meaning that those with funding already in place can literally name their price in some cases.

Recent comments from the International Monetary Fund (IMF), speculating that UK house prices were over valued to the tune of 30%, are just one more reason for sellers to panic and buyers to remain on the sidelines. Whether this over valuation forecast is correct remains to be seen, but in this current environment of worry and panic it does nothing to brighten the outlook.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details