You are here: Home - News -

Rightmove highlights flattening house prices as purchase activity begins to make progress

  • 05/06/2003
  • 0
The housing market is continuing to cool down, according to the latest figures from online estate ag...

The housing market is continuing to cool down, according to the latest figures from online estate agency,

The data, showing trends up to 11 April, highlights a drop in house price increases from 22.5% last month to 17.8% this month. The downward trend in the year-on-year figures is set to continue over the next few months as this year’s flattening market contrasts with the huge rises seen last year.

On a monthly basis, prices were up 0.5% on average, with the biggest regional fall seen in East Anglia (-2.1%). The greatest gain was seen in Wales (3.3%). The changes put average property asking prices at £161, 370.

Miles Shipside, commercial director at, commented: ‘There is 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 is a very good market for the buyer. Prices are hardly moving, and while it is a far cry from last year’s boom, it is looking less and less likely that house prices will slide this year.’

However, The Woolwich said borrowers still feared future house price moves. It said confidence in the housing market had fallen for the fifth consecutive month in March, and that the number of homeowners who felt prices would rise was 50%, compared to 53% in February and 63% in October.

Andy Gray, head of lending at The Woolwich, said: ‘This month’s confidence figures reinforce the view that homeowners are becoming increasingly aware that the house market boom is coming to an end.’

Although Gray felt borrowers were still uncertain, he was confident the low-interest rate would ensure affordability and help avoid any sharp correction in house prices.


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
FSA proposes application fees

The Financial Services Authority (FSA) has published CP180, its proposed approach to application fee...