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House prices fall 1.9% in March

House prices fall 1.9% in March

4th April 2009

The Halifax have reported a 1.9% drop in houses prices compared to February bringing the average UK house price down to 157,226.
This news come just days after the Nationwide Building Society reported a slight increase in houses prices of 0.9%

Despite the difference of opinion between the two mortgage lenders both agree that the lack of consumer confidence was still putting downward pressure on the housing market and would most likely remain throughout 2009.

Rising unemployment in a gloomy recession is undoubtedly the cause of the low consumer confidence and until the light at the end of the tunnel can be seen we are unlikely to see a turn around.

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