Home prices in England, Wales fall

LONDON, April 12 (UPI) -- House prices in England and Wales have fallen in nearly half of all postcodes, compared with a year ago, data shows.

The Daily Telegraph reported Saturday that property prices are lower now than in April last year in 45 percent of the 2,300 postcode districts in England and Wales.

The recent data from Hometrack, the property research company, suggests the housing downturn is more widespread than previously thought.

"This is the clearest sign yet that the market is turning in earnest," said Ed Stansfield, a property economist at the forecasting house Capital Economics.

"Bearing in mind, prices were still climbing quite strongly a year ago, valuations must have fallen quite sharply in recent months for prices on an annual basis to be in negative territory," he added.

Halifax, England's largest home lender, has warned house prices fell by 2.5 percent in the last month, the newspaper said.

Hometrack said the areas hardest hit are Swindon, with prices down 6 percent in some areas; Doncaster, which is down 5 percent in many postcodes; Bristol, down 6 percent; and Plymouth, down 5 percent.