UK house prices decline as demand falls

Note: This section contains information in English only.
Source: Bloomberg

Real estate sellers in London cut prices in July due to increase in supply and typical summer fall in demand. Prices declined by 3.6% or, on average, to GBP 460,304 in comparison to June 2012. In England and Wales fall was a bit smaller, 1,7%. Moreover, Ernst & Young specialists imply house prices might drop by 2% more this year. This means that in nominal terms the rate will be 8% below the 2008 peak, whereas in real term real estate prices may be 24% down.

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