House prices fall again – Rightmove
House prices in the East Midlands fell by more than 2 per cent in August, according to property website Rightmove.
According to the latest House Price Index, the average asking price fell 2.1 per cent to £231,543 in August, following a 1.6 per cent reduction in July. In the East Midlands, the average house price fell 1.9 per cent from £163,133 in July to £160,114 this month.
Rightmove said the UK figures meant a fall of 0.3 per cent compared with the same period in 2010. It added that prices have fallen by 4.1 per cent in the four years since the start of the financial crisis.
The average asking price is now 14 per cent higher than the average £203,528 selling price. That selling figure comes from stats produced by the Department for Communities and Local Government.
Miles Shipside, a Rightmove director, likened the current state of the market to "limbo land", suggesting that much of the current activity is limited to "sellers who are willing to price aggressively below the competition and who can afford to do deals".
