UK house prices losing 2.7% per month

House prices dived by 2.7% during August as the number of first-time buyers getting on to the property ladder slumped to a record low, figures showed today.

House prices in the UK have dived by 2.7% during August as the number of first-time buyers getting on to the property ladder slumped to a record low, figures showed today.

The average cost of a home in Britain dropped to £211,410 (€271,81) during the month, driven down by a 5.1% fall in the value of flats and a 3% slide in the cost of terrace houses, according to Communities and Local Government.