HOUSE prices in Luton have seen one of the biggest falls in the country in the past year.
The latest Land Registry statistics show that house prices in Luton dropped by 6.2 per cent, with the average house price now £123,966.
Out of 111 boroughs in England and Wales, only 16 saw a greater fall in average house price than Luton.
Nationally, this year sees the biggest fall in house prices since February 2009, with the worst being Hartlepool with a drop of 20.4 per cent.
Although Luton house prices suffered a 6.2 per cent drop, in comparison Central Bedfordshire prices dropped by only 2.3 per cent.
Peter Norman, director of Household Estate Agents in Luton, said: “We agree that there is pressure on house prices in the Luton area at present.Properties are selling if they are priced correctly, we have just seen our busiest sales month this year with more first-time buyer activity and more buyers in general taking advantage of competitive prices and low interest rates.
“We have just completed a move to larger premise in Wellington Street to cope with the increased levels of business. All in all we feel this is a good time to think about moving.”
The average price of a house nationally is £159,999 and has fallen by 3.2 per cent.