Year To June House Prices Fall Over Six Percent

Published: 7/11/2010

The regular Halifax house price report has shown that, in the year to June, property prices have fallen by 6.1 percent.

The forecast by the Halifax for the rest of the year is a fall over the 12 month period of around 9 percent. At the moment property prices are at similar levels to August 2006 though further drops will take values to earlier dates than that.

The chief economist from the Halifax felt that the current situation, with strong employment meant that the future could be alright for property prices, though were a recession to hit the UK this could very quickly change.