Nationwide: August saw 0.9% UK house price decrease
Date posted: 06 Sep 2010
Last month saw a 0.9 per cent decrease in the UK's house prices, Nationwide has revealed.
Published by Tim Hill.
A 0.9 per cent drop in house prices was witnessed in the country's property market last month, new figures have suggested.
According to Nationwide, this compared to the 0.5 per cent price fall which was recorded in July.
Meanwhile, an average house price of £166,507 was seen in the UK during the month of August, the company also revealed.
Chief economist at the organisation Martin Gahbauer feels that people looking to purchase domestic properties have a greater degree of bargaining power in their favour at the present time.
He stated: "As more sellers have returned to the market, buyers have a greater selection of properties to choose from and more bargaining power with which to bid down asking prices."
Towards the close of last month, separate statistics published by the Land Registry found that the average English and Welsh property value reached £166,798 in the month of July 2010.
Please contact Michaela Henson, Head of Property for further information or call 01223 225178
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