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House prices fall with more homes for sale

By Western Daily Press  |  Posted: July 31, 2012

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House prices have fallen for the first time in seven months.

The South West has seen a decrease of 0.2 per cent, as the number of potential buyers shrinks while the volume of homes going on the market rises, a study has said.

The gap between supply and demand is set to widen following an early and unusually rapid seasonal summer slowdown, meaning prices are likely to fall further in the coming months into autumn, property analyst Hometrack said.

London was the only region to register a price increase in July, with a rise of just 0.1 per cent.

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