Twitter Facebook RSS FEEDS

House price decline slowing

Tuesday, 12 May 2009 4:17 PM

The Communities and Local Government statistics, released today, discovered the average house price in March stood at £187,193, with prices falling 3.8 per cent in the first quarter of 2009, compared with 6.4 per cent in the previous quarter.

Annual average house prices fell most in Northern Ireland, down 16.1 per cent, and least in Scotland, down 9.8 per cent. First-time buyers (FTB) were benefiting from lower house prices, according to the statistics, with the average FTB paying 16.7 per cent less for their first home than a year ago.

David Smith, senior partner, Carter Jonas estate agents, said: "Although house prices are still falling, they're not falling as quickly.

"This is a positive sign that we might be reaching the bottom of the market, although talk of a recovery is probably a little premature. On the ground, we are definitely seeing encouraging buyer activity and a surge in new instructions, which suggests there is certainly a lot more confidence in the stability of the housing market than there was a few months ago."

House prices rose in the north-west but fell in the other eight English regions during March.

Property search engine Globrix.com also released findings today which showed the number of new properties coming onto the market had risen each month since the beginning of the year. Although numbers of new properties being sold were down on an annual basis, there was a 9.5 per cent increase in April in new properties being advertised, compared to March.

Daniel Lee, CEO of Globrix, said: "With sellers returning to the market and RICS reporting an increase in buyer interest, these are encouraging signs for a property market that has been very much in the doldrums for the past 12 months.

"With buyers reluctant to purchase while house prices were dropping like a stone, many areas of the country were blighted by old housing stock that had been languishing on the market for six months or more with little hope of selling. Now with a significant increase in new properties coming onto the market, genuine buyers will have much more choice."

Related stories

FT- house price decline is slowing

FT- house price decline is slowing

FT- house price decline is slowing

Lloyds TSB- House price decline slows in Scotland

Lloyds TSB- House price decline slows in Scotland

Lloyds TSB- House price decline slows in Scotland
Once again, only London bucked the trends. Image:Thinkstock

Only London bucks April house price fall

Recovery expected over next 12 months but north-south divide narrowing, finds Knight Frank/Markit.

 Robert Bartlett, chief of Chesterton Humberts

House price decline slowest since July

House price decline slowest since July
House prices are declining

UK house prices decline for fourth consecutive month

Property prices have decline for the fourth month in a row, according to new figures.

 House prices in market towns have risen by £1,000 a month on average over the last decade, say Lloyds TSB. Image: Thinkstock

Market towns enjoy £1,000 a month house price rise

Over the last decade house prices in market towns have risen by £1,000 a month on average say Lloyds TSB.
Price of terraced homes rose £118 a day over the last decade, says Halifax survey. Image: Thinkstock

Terraces see highest house price rise

Price of terraced homes rose £118 a day over the last decade, says Halifax survey.

 Nationwide: house price growth slowing

Nationwide: house price growth slowing

Nationwide: house price growth slowing
Most of the £1m-plus sales were in London with only Elmbridge in Surrey making the top ten.

Decline in sales of £1m-plus homes

Sales of seven-figure homes fall five per cent but still rising further up the scale, says Lloyds TSB.

 House price inflation is slowing says Halifax

Halifax: House price inflation is slowing

Halifax: House price inflation is slowing

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

WowBBQ

WowBBQ Logo
Welcome to the World of Weber. We are the largest independent online Weber BBQ retailer in the United Kingdom. WOWbbq.co.uk is a Weber Partner Store and can give you the best advice for all your Weber BBQ needs.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

A guide to finding the right kitchen sink

When redesigning a kitchen or giving the room a makeover, it is important not to forget about the less obvious aspects of the space. Kitchen sinks are an essential fitting, but often overlooked, despite the fact there is a wide choice of styles available.

Useful tips to help find a flat in London

Looking for flats in London can be a frustrating process, given the capital's size, demand for rental accommodation and varying prices. It is vital, therefore, that you do plenty of research and act quickly to ensure you get the place that you want.

What do you need to consider when buying a mattress?

If you looking for a new mattress, you need to get the decision right, as getting it wrong could impact on your overall health and wellbeing. As well as comfort and size, you also need to consider other points, such as any health issues you may have.