House prices 'fell 15% in last year' - NCB &

House prices ‘fell 15% in last year’

Asking prices for houses have declined 15 per cent over the 12 month period to the end of March, according to a survey by NCB Stockbrokers and property website published today.

In the first three months of the year asking prices declined 1.4 per cent. This follows a fall of 0.2 per cent in the previous three-month period.

House sellers and property developers are cutting prices as rising borrowing costs curtail home buying.—q1,-2008.asp