UK house price fall slowing

UK house prices fell at their slowest annual rate since June 2008 in October, dropping 4.2 per cent, due to an ongoing lack of housing for sale after the credit crunch, property data company Hometrack will say today. Hometrack’s survey of estate agents and surveyors showed that house prices rose 0.2 per cent in England and Wales in October on a non-seasonally adjusted basis, the same rate of increase as in September. But this rise was largely concentrated in London, where prices rose 0.4 per cent, while in 84 per cent of postal code areas house prices were static.