12 Aug

Property market prospects look bright despite price fall

Property market prospects look bright despite price fall

Statistics have shown that house prices may be edging towards stability, good news for those looking for a house for sale in Exeter.

The market saw a drop of just 0.1 per cent in the mean UK house price which suggests the pattern of house price decline seen over much of this year may be reversing. Figures also show an overall decline of 2.6 per cent over the year ending July, with May showing the single largest monthly drop.

Chairman at Acadamertics, who helped carry out the research, Peter Williams said: "The market is moving backwards, taking with it the modest gains seen in 2010 and in the early months of 2011. That said, the July 2011 price is still significantly higher than the £200,234 to which the average fell in April 2009, at the low point in the last recession."

Flats had weakest market with detached and semi-detached houses having the strongest, despite the fact that the buy-to-let market has strengthened.

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