House price drops 'slowing'

News Category: Marketing

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Letting agents and other property professionals may have noticed a slowdown in the rate of property price drops this month.

According to housing intelligence group Hometrack, house prices in England and Wales fell at the slowest rate for over a year in April.

New research from the firm suggests that 32 per cent of postcode districts reported a reduction in property prices, compared to 59 per cent two months previous.

Richard Donnell, Hometrack's director of research, said: "While the pick up in demand and sales volumes is real, it is important not to lose sight of the broader picture."

By this, he meant that the volume of housing sales in Britain is looking likely to be less than 50 per cent of the level "that would constitute normal market conditions".

While the sales market may be stuttering, an increasing number of lettings are cropping up around the UK as homeowners look for alternative ways to make money in the current climate.

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