House prices fell by 1.8% in February, says the latest report from Nationwide, bringing the average price of a property to £147,746, down 17.6% from this time last year and under £150,000. Cuts in interest rates have helped affordability, Nationwide adds, but this has not yet kickstarted confidence in the market.
‘Early signs of increased interest in housing, as reported by the pick up in new buyer enquiries, have yet to filter into sales, but do suggest that falling prices and interest rates are raising curiosity now, which could flow through quickly once confidence does return,’ said Fionnuala Earley, Nationwide’s chief economist.
* More news on the property market and house prices
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'Never has there been a more important time to publicise great Victorian and Edwardian buildings in peril': The importance of saving our historic buildingsFor the 16th year, the Victorian Society is calling on the public to nominate Victorian or Edwardian buildings in England and Wales that are in need of saving.
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A beautiful old farmhouse in 15 acres of breathtaking Scottish scenery, for sale at just £825,000A wonderful country home with almost 15 acres of land has come up for sale at a price which will make urban dwellers question their life choices.
