U.K. house prices dropped for a seventh month in November and the pace of decline may accelerate as weak consumer confidence erodes demand, property researcher Hometrack Ltd. said.
U.K. house prices fell in July for the first time this year and may extend their decline as a deepening recession curbs demand for homes, Hometrack Ltd. said.
U.K. house values rose in May for the 10th month as a shortage of properties for sale allowed real- estate agents to raise prices, Hometrack Ltd. said.
U.K. house prices rose in all regions of the country for the first time in more than six years last month as low mortgage rates helped the property revival to broaden, Hometrack Ltd. said.
"Weaker demand is behind the slowdown in London, a trend that has been building from the spring."
- Richard Donnell on Oct 23, 2014