UK property prices fall
House prices across most areas of the UK property market began to recover ground more than a year ago with most months recording a rise in the valuation stakes however July through to August saw a drop in asking prices for the second month in a row.
Some economists have been warning of the real possibility of a 'double'dip' in the housing market across the UK and many professionals are wondering if this is the start of a downward trend in pricing values.
Traditionally the summer months of July and Augsut do see lower activity levels due to the holiday season but agents in most regions report a considerable lack of buyers, often due to mortgage restrictions.
The drop in asking prices has also been reported by the Royal Institution of Chartered Surveyors with its members erring on the side of caution towards the future direction of UK property prices.