The latest property index from the Land Registry has revealed that property prices have fallen on average by 0.3% per month in the lead up to September.
With the North East facing the largest falls of 8.2% on their property investments followed by 5.8% in Wales, these drops are an indication of the growing lack in confidence by property owners in the UK property market.
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Concerned about the UK economy, more and more property owners are choosing to remain in their existing homes or opt for buy to let in order to move to different property locations.
As a result, average property prices across England and Wales now rest at £162,000.
Yet it is not all bad new…
London property investments have continued to witness property price growths over the last 12 months with an increase of 2.7%.
Source: http://www.propertymentor.co.uk/property-news-815.php
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