Those looking to sell their home have been dealt a blow with the news that the average UK house price has fallen again.
According to figures released today (March 27th) by the Land Registry, property values have fallen 16.5 per cent year-on-year.
It means the average British dwelling now costs £153,862 – news that may encourage some homeowners to improve rather than move.
With summer just around the corner, those with gardens may even be tempted to install a conservatory.
Commenting on the Land Registry figures, Royal Institution of Chartered Surveyors (Rics) chief economist Simon Rubinsohn said he was unsurprised by the findings.
"This is broadly consistent with what is being suggested by most other house prices indices," he explained.
Mr Rubinsohn pointed out Rics has noted an increase in buyer interest of late and hinted buyers may be looking to grab a cut-price deal.