UK house prices down 3.9%

House prices have dropped by 3.9% over the past year and are set for further falls as sellers become more realistic about the value of their property, according to a survey.

House prices in the UK have dropped by 3.9% over the past year and are set for further falls as sellers become more realistic about the value of their property, according to a survey.

The number of sales agreed by agents rose by 10.6% in June - its highest level for three months - after the market was boosted by sellers agreeing to lower prices, according to housing intelligence firm Hometrack.