House prices fall a further 0.5%

According to housing intelligence group, Hometrack, house prices in England and Wales fell for the seventh consecutive month in January.

According to Hometrack, house prices fell by 0.5% on the month to £153,600.

On an annual basis meanwhile, house prices were 2.2% lower in January.

Hometrack believes that house prices will continue to fall, in light of the economic uncertainty and the Government’s spending cuts