UK home prices fall

The building society said that prices were down 0.7%, with the average home now costing £164,381. ($264,719.). The more reliable three-month on three-month comparison showed prices fell by 1.5%.
A separate report by the Home Builders Federation claimed that the average first-time buyer would need to save all their earnings for more than two years to get on the property ladder.



The average age of a first-time buyer, unassisted by their parents or other family, was 37 years old, the report said. "First-time buyers - the life-blood of the housing market - are almost entirely shut out," said Les Sohar. "They desperately need an increase in lending and a properly functioning and sustainable mortgage market."
Figures from the Land Registry - which is considered the most comprehensive survey but which lags behind other polls - suggested that the picture is different across various regions of England and Wales.