UK House Prices Down In July

UK house prices in July fell for the first time since February last, from an average of 170 111 169 347 Pounds to Pounds.

According to a study by Nationwide Building Society, house price declines of about 5 per cent inflation that shows the average house price in England in July fell 6.6 percent from the previous position which amounted to 8.7 percent.

"So far this year housing demand is still smaller than the demand last year," said Nationwide chief economist Martin Gahbauer.

Gahbauer added, although the government has provided incentives and benchmark interest rates too low, but home sales and purchase transactions that occurred in the whole of England still counted little. "The financial crisis and the recession that occurred in the UK still seem burdensome to the community," said Gahbauer.

This has obviously resulted to the financial condition of the community. Where, only rich people are likely still active trade. "The reason most people still resist the temptation to buy a house, due to the economic situation that still beset the uncertainty," said Gahbauer.