House prices fall again

House prices in the East of England have declined again this month - signalling good news for first time buyers.It's the second month in a row that prices have dropped with figures falling 1% in January.

House prices in the East of England have declined again this month - signalling good news for first time buyers.

It's the second month in a row that prices have dropped with figures falling 1% in January.

The average house price in the east is now �211,802 which is 3.2% less than a year ago.

The affordability gap - the amount of deposit that first-time buyers need to find once they have raised a maximum mortgage - has also declined from �37,417 last month to �34,805 in January.

Nigel Laws, from FindaProperty.com, said: “The east of England is yet to experience the recovery in house prices being seen in other regions of the UK, as prices continue to be significantly lower than a year previously - and continue to fall.

“However, this is good news for first-time buyers, as taking that first step on the ladder is becoming slightly easier.”