New House Prices Survey Carried out by Hometrack

The latest property survey carried out by Hometrack showed that house prices in the United Kingdom fell for the 1st time since April 2009.

It also revealed that houses in Wales stayed on the market longer than in other parts of the country. As such, it took approximately 12.6 weeks to sell a house in Wales, which compares to 8.6 weeks and 6.1 weeks in the South West and London accordingly.

Probably, this could be explained by the fact that an average price of a property in Wales reaches £119,800, whereas actual sale prices rarely fall below 91.4% of asking prices.

Overall, house prices in the country fell by 0.4% in September, whereas demand for properties decreased by 2.9%.

Commenting on the findings, Mr. Richard Donnell of Hometrack, said that the results of the survey showed that the upturn on the UK housing market registered in the past 12 months has been unequal. Parts of Wales, in particular, remained rather weak in terms of housing, which compares to a relatively strong upturn in London and other parts of England.