House price fall 'grinds to halt'

by Christopher Evans

UK house prices have stopped falling, a new survey has indicated.

The latest Hometrack figures have shown that there was no change in values between April and May, the first time in 20 months there has not been a drop.

News of the findings comes days after Nationwide's statistics for the month indicated a 1.2 per cent rise.

Director of research for Hometrack Richard Donnell urged caution, commenting that any recovery may be vulnerable to relapse and noting that transaction levels are still low.

Further possible encouragement for those hoping to see the property market improving may have been provided by the latest Land Registry figures, which showed that the fall in prices in April was down to 0.3 per cent, from March's figure of 0.4 per cent.

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Published on: June 1, 2009

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