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House price falls 'worse for city flats'

New-build city centre apartments are suffering worse falls in value than other kinds of property, suggested today.According to new analysis from the housing specialists, areas with large numbers of the flats are among the ten worst-performing districts in England and Wales over the past year.Birmingham Canal, an area west of the city centre that has been the site of new apartment complexes over recent years, is the number-one biggest faller, with the average house price 17.3 per cent lower than it was 12 months ago.By way of comparison, the latest nationwide house price survey from Halifax has tracked a 13 per cent annual house price decline.Commenting on the results, director Selwyn Lim said: "The greatest price falls are not connected with how expensive the relative locations are."Price falls have not discriminated according to how much a property cost in the first place or how desirable an area was."

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