'Negative growth' in April house prices

Negative house price growth has been recorded by one estate agency, it has emerged.

According to Chesterton's Poll of Polls, over 50 per cent of local authorities have noted a negative month-on-month house price growth throughout April.

The research, which was conducted by the Centre for Economics and Business Research (CEBR), showed that detached houses experienced the biggest drop with a fall of 1.1 per cent, while flats had the strongest growth with a rise of four per cent.

In regional terms, Northern Ireland saw the largest dip of 4.6 per cent, while the East Midlands and Wales also had negative growth.

Douglas McWilliams, chief executive of the CEBR, said: "Price falls are now happening across the country. Mortgage lenders, estate agents and surveyors - in fact, all areas of the market - are now telling the same story of decline.

"Prices are only holding up in Scotland and at the very top of the market, which is propped up by international demand helped by falls in sterling."

Similarly, statistics from Nationwide this week showed that the UK's house price figures have declined by one per cent over the past year.

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