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UK: Surge in homes for sale puts pressure on house prices

Posted on 28 June 2011

The number of homes for sale has risen 14% since early spring, according to new research. Property information firm Hometrack says the increase in supply has comfortably outstripped demand, which has increased by only 7% over that period and actually fell by 0.5% last month.
The company also recorded a drop of 0.1 per cent in house prices in June, continuing a pattern of modest falls so far this year. Values are now down 3.9 per cent on a year ago and prices have dropped in 11 of the past 12 months………………………………………..Full Article: Source


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