House price collapse in Sept

Landlords faced a house price collapse in September according to figures released yesterday by the Halifax.

House prices fell by an amazing 3.6% in September alone.  This is the largest monthly fall since the Halifax started collecting records back in 1983.  These figures are skewed some what by the fact that the Halifax only tracks houses that require a mortgage and lending figures are still very low.

It has raised concerns by many that this could be the start of a 'double dip' in house prices following on from the public spending cuts to be announced by the new Government as a result of their October spending review.

Increased supply in housing and poor finance have been blamed.  But maybe the reality is that houses are still too expensive.

We continue with our advise to landlords that they should only buy if they are going to get a good deal and the investment will generate a good rental yield.

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