| Reuters: House prices fell for a 12th month running in September to stand 6.2 percent lower than they were a year ago, a survey by property consultants Hometrack showed on Monday. The drop of 1.0 percent on the month to 165,300 pounds was bigger than the 0.9 percent decline in August and suggests the government's decision to raise the threshold for stamp duty has done little to support the housing market.
In August, prices were 5.3 percent lower than a year ago. On Sept 2, the government raised the threshold above which tax is paid on a home purchase to 175,000 pounds and announced measures to help first-time buyers and those struggling to make mortgage repayments .Since then, strains in the banking sector have intensified, dealing a further blow to confidence and prompting a number of lenders to raise their mortgage rates..... Full Article: Source
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