It has been revealed by the latest Halifax House Price Index, published on Tuesday (April 8th), that UK house prices continued to fall last month.
After experiencing a decrease of 2.5 per cent, the value of a typical property dropped to £191,556 in March.
The greatest price falls were seen in the West Midlands and Wales, where property values dropped by five per cent and 4.7 per cent respectively.
Commenting on the data, Peter Bolton King, Chief Executive of the National Association of Estate Agents (NAEA), observed that confidence in the market had been dampened by the impact of the credit crunch.
He maintained, however, that low unemployment and high demand for property, which he said were "the key factors that underpin the housing market", still existed.
Mr King commented: "We can see from the figures in other regions that it is not all doom and gloom out there and in many regions the market is broadly stable. We need to tread very, very carefully before making judgements on the market at this current, unsettled, time."
