British house prices fall further

London: British house prices fell for a fourth month in January after the economic recovery stuttered and consumers faced a lack of mortgage finance, research company Acadametrics Ltd and LSL Property Services Plc said.

The average price of a home in England and Wales declined 0.1% to £221,211 (€260,064) from December, they said. Values are up 0.6% from a year earlier.

Bank of England data shows that mortgage approvals fell in December to the lowest level since March 2009, and former policy maker Kate Barker said prices may continue to decline this year.