UK House Prices Decreased 0.5% in August 2011

The latest report published by Halifax suggests that house prices in UK fell by 0.5% and will continue to decrease this year.

Yesterday, on October 6th, Halifax published a new house prices report, which suggests that property values in the country fell by 0.5% in August and reached 161,132 pounds.

This data supports the recent report published by Hometrack on October, 3rd. According to Hometrack specialists, house prices in UK fell by 0.1% in August. At the very end of September Nationwide published its own findings, according to which house prices in Great Britain increased, although insignificantly, in the last summer month.

Halifax experts highlighted that the activity on UK property market was quite high in August, and yet the total number of sales only stood at 70,000. Experts are determined that house prices will continue to decrease slowly and yet steadily.

“We currently see house prices falling by around 5% by mid-2012,” said Howard Archer of IHS Global Insight.