By Marcus Leach
Data released by Hometrack on Monday has revealed that house prices in the UK have fallen for the 15th consecutive month.
Prices fell by 0.1% in September according to property data specialists Hometrack, with a 2.6% drop in the number of buyers.
Further to that there is a increase in the gap between asking prices and actual sale prices, pointing towards a deepening recession in the market.
"As the gap between supply and demand widens, we are likely to see an acceleration in the level of price falls as we head towards the end of the year," said research director Richard Donnell.
The latest data suggests that current buyers are making bids increasingly below the asking price. However, London has seen a 0.2% rise in prices in September.
"It has been the relative strength of the London market that has supported the headline rate of growth this year," Donnell said.
Join us on