April house prices down 10.1 per cent
Monday 27th April 2009, 12:16PM BST.
A 10.1 per cent fall in house prices was felt in April against the same month last year, Hometrack has claimed.
Despite prices falling across the country, the rate of the decline is slowing, today’s survey showed.
“Only when first-time buyers feel confident to enter the market in significant numbers can we really start to claim any ‘real’ green shoots of recovery,” said Hometrack director of research, Richard Donnell.
“This suggests to us that the recent pick-up in demand is largely seasonal and unlikely to be sustained over the rest of the year.”
The research already showed that in April, the number of sales agreed rose by nearly 15 per cent, following an 18.6 per cent jump in March, while the average time it took to sell a property fell to 10.4 weeks from 11.3 weeks in March.
Sellers are also pricing their properties more realistically, with 89.6 per cent achieving their asking prices on average, the highest since last September, after 88.8 per cent in March.
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