Property prices are still falling
Last updated 13:58, Tuesday, 02 December 2008
House prices continued to fall during November but the slump in sales looks close to bottoming out.
The cost of a home in England and Wales dropped by 1.1 per cent during the month, to give an average house price of £161,400.
The annual rate of decline continued to increase to reach 8.1 per cent, up from 7.3 per cent in October, according to property intelligence group Hometrack.
Overall, house prices fell across 70 per cent of postcode districts, although this was a slight improvement on the previous month when values dropped in 74 per cent of areas.
Richard Donnell, director of research at Hometrack, said:
