Residential conveyancing news: House prices stabilised between March and April

Posted 02/05/2011

New figures concerning house prices may encourage people who have been considering seeking a residential conveyancing solicitor to buy a home to do so soon.

According to Hometrack, UK property prices stayed the same last month as they were in March 2011, marking the first month in nine that they have not declined.

The average home in Britain now costs £153,100, a 3.3 per cent decrease on the figure seen in April 2010.

Meanwhile, the number of people looking to buy a house increased by 22 per cent over the past four months and sales shot up by 46 per cent.

Richard Donnell from Hometrack said: “Pricing levels are starting to come under pressure as would-be purchasers are presented with increased choice as supply grows.”

It is thought that house prices could therefore begin to fall over the coming months.

This comes after findaproperty.com carried out a survey and found that 42 per cent of people think the cost of a home will fall this year, the Telegraph reported.