UK house prices slip in four weeks to December

The property website Right Move has reported asking prices for houses fell 3% in the four weeks to December 4th.

Most pundits agree that house prices have fallen over the last six months and that prices have fallen faster in the north of the country than in the south and in less urban areas compared to our cities.

The prediction is that as interest rates remain at record lows, the housing market will continue to be depressed and prices have a fair bit to fall over the next year before we see any national pick up in activity and prices.

Melanie Bien, a property expert at Private Finance, told the BBC there is a lack of confidence in the property market as people worry about spending cuts.