Research group Hometrack says house prices dropped by 0.2% in July and forecasts prices will end this year 5% lower than in 2004. Hometrack said the average house price, based on it surveys of estate agents, was now £161,300, down 3.7% on the same time last year. Hometrack’s economist John Wriglesworth said: “The market is showing no signs of recovery. While housing transactions have grown slightly all other indicators, prices, time to sell and numbers of buyers, are worsening.” (Guardian)