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Price of the room have been under increasing pressure for months that potential buyers have adopted a "wait and see" approach. Photo: AP

The average cost of a house in the United Kingdom has dropped nearly 2,400 ￡ to ￡ 164,381 for months, as seen since the beginning of the summer prices downward trend has continued, Nationwide said.

Price of the room have decreased or remained static in each month since the end of may, with drops during 2010 nearly wiping out the gains made at the beginning of the year.

Quarter-on-quarter change in real estate, which is generally considered a smoother tendencies of the market indicator price also showed that rate values fall property which has accelerated.

Price houses immersed by 1. three months at the end of October, compared to a slide in the quarter to end September 1pc 5pc.

Nationwide said it is the largest fall since April 2009, although it remains well down on the drops 5mC quarterly and 6pc recorded during the second half of 2008.

The annual rate of house price growth also decreased for the sixth month consecutive, falling to just 1. 4pc - less than half of the 3. 4pc recorded during the previous month.

Martin Gahbauer, Nationwide, Chief Economist said: "' if the recent trend in real estate prices continue in November and December, the annual rate of house price inflation would fall in between 0pc and less 1pc 2010.Cela late compared to a rate of 5 9pc at the end of 2009.".

Price of the room have been under increasing pressure for months that potential buyers have adopted a "wait and see" approach that the prospects for the market of housing and the wider economy becomes more clear.

But vendors have continued to return to the market, creating a gap between the supply and demand and by giving buyers the upper hand in price negotiations.

Mortgages remain as tight, preventing many people who want to press ahead with a move to do so.

It remains to be seen what impact spending reductions announced in the comprehensive spending review will be on the real estate market, but public job cuts could do more pressure on prices in some regions of the country.

Halifax reported that real estate prices fell by a record 3 6pc in September, although the Group had reported increases in price during the two months when Nationwide registered a decline.

Figures from the British Bankers' Association has released earlier this week showed that net mortgages, redemptions and refunds, bands was spending its lowest for a decade, as the housing market activity has remained silent.

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