House prices fall in January

The latest figures from the Land Registry have shown a fall in house prices in England and Wales for the first time since August 2005.

During December seven out of ten regions saw prices decline, with an overall dip of 0.4 per cent.

The north-east saw a 2.2 per cent increase, a third of its annual price rise, while the east and London were the other regions to see growth.

In contrast, the east midlands came out worst with a 3.3 per cent decline to make its annual growth just 0.5 per cent.

Those planning to get on the housing ladder in most regions may consider buying a house when its value is falling not to be the best investment and could look at the alternative strategy of self build.

The Land Registry figures follow the Rightmove statistics earlier this week which showed a 0.3 per cent drop in prices for January.


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