House price decline slows further

by Rachel Crook

There has been a further slowing in the decline in house prices in England and Wales, according to fresh Land Registry figures.

Data for May revealed a drop of just 0.2 per cent, compared with 0.5 per cent in April, suggesting that the market may be bottoming out.

Five of the ten regions saw prices rise, with the largest increase being 1.2 per cent in Wales.

However, London prices dropped by 1.5 per cent, taking the capital's average back below the £300,000 level to £295,325.

Commenting on the figures, managing director of investor portal Keshav Thukaram suggested that now is a good time for landlords to add to their property portfolios as prices "offer the best value".

  • Manage your buy-to-let portfolio with Property Portfolio Software: helps landlords track rental arrears, increase cash flow, pinpoint poor performing properties and much, much more...

Published on: June 26, 2009

Did you like this article? Share it!

Property Management Software

Property management software advert

One-touch property accounts for tracking cash flow and rental payments, plus software for generating tenancy forms.

Read More