The five weeks between August and September saw that house prices fell again, by one per cent.
The latest
house price survey from Rightmove, which focussed on asking
prices, pegged the average
property at a
price of £227,438 as a result of the drop.
Miles Shipside, commercial director of Rightmove, hinted that the results may be due to fewer
homeowners putting their
homes up for sale.
"The housing market is in limbo and will remain so until financial institutions address the disastrous state of the mortgage funding markets. We are now seeing the lowest level of new sellers for years," he said.
"There's a baseline level of activity from those that have to sell, but beyond that, discretionary sellers are increasingly scarce. While this
market provides a good opportunity to trade up, it requires a degree of bravery in the face of the ongoing turmoil in the financial
markets."
Anybody selling as a result of the falling prices may wish to put some possessions into safe storage, to allow buyers to see the space potential of a home.
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