House prices slde for the 15th month in a row

House prices have fallen for the 15th month in a row and are set to accelerate further downwards in the next few months. The warning comes from the latest national Housing Survey published today by property analysts Hometrack which reveals that the number of new buyers fell for the second month in a row.

Meanwhile, as the number of new properties coming to the market in the nine months to September grew by 22 per cent, demand increased by just 11 per cent, showing a widening gap in the balance between supply and demand. Richard Donnell, director of research at Hometrack predicted that demand will continue to slip back over the final few months of 2011.