This is according to Rightmove’s April 2003 asking price index, which shows annual inflation falling for the fourth month in a row to 17.8%, with a 0.5% month-on-month rise in house prices nationally.
Rightmove believes this clear deceleration in house price inflation has encouraged buyers back into the market and it states it can see unmistakable evidence of the re-emergence of a healthy housing market, underpinned by good levels of consumer confidence.
The index shows that the first three months of the year saw a general stagnation of prices and activity as home buyers window-shopped but did not buy. At the same time, there was a marked increase in the number of properties on the market. However, things have now changed. London, having previously performed significantly less well than the national average, this month saw similar modest price rises of 0.5%, in line with the country as a whole.
Commenting on the findings, Ed Williams, managing director of Rightmove, said: “A month ago we reported that the majority of prospective home buyers saw the war and its repercussions as a negative factor for the UK housing market, particularly in London. Now that the conflict is winding down and the blanket media coverage is abating, people are getting back to their traditional springtime pastimes of planning their holidays and looking for a new home.”
Miles Shipside, Rightmove’s commercial director, agreed: “There’s a clear pick-up in interest among prospective buyers and deals are being struck if prices are reasonable. With larger numbers of properties on the market and sellers increasingly willing to price realistically, it’s a very good market for the buyer. Prices are hardly moving, and while it’s a far cry from last year’s boom, it’s looking less and less likely that house prices will slide this year.”
