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Average house prices down for 30th month in a row

UK Residential Homes Houses London 480

Average house prices in the UK fell for the 30th consecutive month in December but homeowners remain positive on the outlook for 2013.

Knight Frank/Markit’s house price sentiment index reveals six out of the 11 regions are expecting price rises in 2013. The biggest price rises are expected in London, for the second year in a row, followed by the South West, Yorkshire and the Humber.

But the proportion of homeowners reporting the value of their home had risen in December was 7.7 per cent – down 1.4 per cent from 9.1 per cent in November.

The sharpest declines in 2013 are expected in Wales and the North East.

Knight Frank head of UK residential research Gráinne Gilmore says: “As this data shows, it is not a simple case of North vs South when it comes to the current outlook for house prices. Indeed, households in Yorkshire and the Humber are among the most positive about the outlook for house prices in 2013.

“While the outlook for house price rises among households in the majority of regions is a positive note on which to end 2012, the large regional splits show that the housing market is far from recovered, especially heading into an economically uncertain 2013.”


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