House prices drop again

The latest Land Registry house price index has revealed a further drop across England and Wales.

Figures from the body for June showed that there was a one per cent dip in value to £180,781, with every region seeing a decline except for the north-east.

The region was joined by the south-east and London as the only regions where prices have risen in the past year, with Yorkshire and the Humber showing no change and the rest seeing drops in value.

Such news suggests that those buying homes could risk being in a situation of negative equity should the trend continue.

However, those using the self build method may avoid this by assembling a house whose value exceeds the cost by a sufficient amount to provide a bulwark against any further falls in price.

As well as the Land Registry figures for June, property consultancy Hometrack today revealed that July has seen a 1.2 per cent dip across the UK.