House prices record year-on-year fall

 

 

House prices in England and Wales recorded their first year-on-year fall for 15 months during January, latest figures show, as the housing marketcontinued to come under pressure.

The average cost of a home dropped by 0.9% during the year to the end of January to £163,177 – the first time annual growth has been negative since October 2009, the Land Registry said.

The year-on-year drop came despite house prices edging ahead by 0.2% during the month itself – the first rise for five months

 

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