House prices are dropping around £120 a day with experts warning that the year ahead looks bleak. Rightmove reported that prices have dropped by a total of nearly 5% since October, including a 0.8% decrease this month. Asking prices have fallen by up to 40% on some properties in recent months, according to website Property Snake, which gives details of asking prices which have been slashed. The price falls are hitting some parts of England more than others, with prices still rising in London and the North. The biggest loser is the East Midlands with prices dropping 6.1% in January alone. It is a cruel blow for anybody who recently stretched themselves to the limit to buy a home.
Tags: asking price falls, east midlands, house price falls, House prices, London
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