House prices fall in all regions of Britain

A survey conducted by Hometrack has shown that house prices have fallen across all regions of the UK, for the first time since April 2009.

Richard Donnell, director of research at Hometrack, said: "House prices fell by 0.4 per cent in September. This is the third consecutive month of house price falls and is part of an ongoing re-pricing process which began six months ago in early spring, and which is set to stretch well into 2011."

Demand for housing dropped by 2.9 per cent in September and the survey also shows that the volume of buyers registering with agents has fallen by 6.5 per cent over the month to date.

The average time a property is on the market is 9.3 weeks, the highest level for a year, compared to 8.9 weeks in August and 8.7 weeks in July. The increase is due to a widening gap between supply and demand. 

Despite the fall in the market, Donnell said that fears of a double-dip recession in property are "overdone".

Read a full report at the Daily Telegraph. ·