Mullucks Wells
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Pace of House Price Falls Slows in June
The Nationwide House Price Index, published 1st July, reports that house prices for June have fallen by 0.9%, which is a dramatic decline from the figures reported by the company for May.
Chris Brown, President of the National Association of Estate Agents (NAEA) responded by saying "we know that the market in some regions in the UK has been subdued as consumers' confidence has taken a knock with the continuing external pressures, particularly the global credit crunch. However, the market appears to be stabilitising which should help begin to restore confidence in the market place."
He went on to say "we continue to urge the government to help the market. We have callled for measures such as a stamp duty holiday for first time buyers and temporary tax relief on the mortgage interest of people's primary residence. We really want to see action from the government to ease pressure and give consumers hope for the future."
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