UK house prices on the slide

The UK property market is expected to remain flat in the months ahead at least until there is a positive change in the economy according to several leading sources.

Recent data supplied by the Halifax House Price Index show that residential property prices across the UK fell by almost 2.5 per cent during last month when compared to March. The average UK property price is now said to be around £159,880 and are almost 1 per cent lower than twelve months ago.

Economists from several major companies agree that the market for residential properties is likely to remain subdued for the foreseeable future with little or no price growth evident.

So while prices are not expected to rise anytime soon sales activity already more than 10 per cent higher than the same time in 2011 is expected to remain robust through the remaining months of spring. Sales figures for March were boosted by the rush to beat the stamp duty deadline.