You are here: cherry > Press releases for October 2011 > Comments from Nick Hopkinson on the latest house price sales data from the DCLG

11 October 2011

�The latest Government analysis shows average house prices falling nationally over the last year by around 2%. This headline data is very misleading as it includes the millionaire enclaves in London where prices have boomed due to cash-rich foreign investors buying to protect their wealth. New-build house prices are only up because developers are starting to focus on larger, more expensive family homes more and prices have recovered partially from the catastrophic collapse following the Credit Crunch. Most new-build city centre flats are worth 20% less than they were three years ago. �The hidden reality behind the national average numbers is that many properties outside London have seen prices fall by over 10% in the last year. With the current Euro debt uncertainties, the wider economy flirting with recession again and inflation squeezing the Great British middle classes �till the pips squeak�, it�s difficult to see any real prospects of house price growth in the foreseeable future for most of us.� If you would like to speak to Nick, you can contact him on 07768 144497.

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