Another Drop in House Prices As Summer Lull Kicks In

By Gary | Published: 17 Aug ’09

The Times reports today that house prices in August have fallen another 2.2% due in part to the seasonal lull in sales due to the August holidays.

sandcastles Another Drop in House Prices As Summer Lull Kicks In

High summer has always been a traditionally slow period for house sales, but coupled with the credit crunch and already dented house prices this lull means that sellers are currently being told by Estate Agents to drop their prices again.

In July there was the first sign of some recovery as house sales and mortgage approvals jumped but this appears to have been a blip. In London, which used to be the hottest market in the UK, asking prices fell by 3.8% last month.

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