Less than 5% of UK homes will exchange this year, says Hometrack

  The fall in average house prices has slowed slightly from -0.6% in April to –0.5% in May, according to researcher Hometrack. The group is also predicting that less than 5% of homes in the UK will change hands this year. This represents the lowest level of activity in the housing market since the early 1990s. Hometrack said that the fall in house prices represented the ongoing uncertainty of house buyers. The Nationwide May house price index is out this week and is expected to show an annual fall in growth of –1.9%. The Sunday Times Business, 25/05/08 p2, Sunday Express Financial p2