New survey shows another house price fall

Further evidence that UK house prices are falling has emerged today with the publication of the April house price index by the Financial Times.

Compiled by Acadametrics, the index showed a 0.2 per cent fall in house prices in April.

This was also the figure for March, Acadametrics confirmed after revising that month's data.

Acadametrics chairman Peter Williams explained that the figures showed a lower drop than other surveys as they were based on completed transactions and purchases not involving mortgages, unlike other surveys.

However, he acknowledges, they still indicated a pattern of falling prices.

Other April house price statistics included a 1.3 per cent decline recorded by Halifax and a 1.1 per cent fall calculated by Nationwide.

Such findings may suggest a growing risk of negative equity for those who buy a house now.

Those seeking to avoid such a situation may seek to obtain a house at a lower cost through using the self build method.


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