House prices remain stable in September
Published On 1 October 2007
The residential housing market remained stagnant last month as fewer people looked to take out a mortgage and buy a home, a new report suggests.Property intelligence firm Hometrack claimed that house prices remained unchanged in September - making it the second month in a row in which prices have remained unmoved.
According to the survey, both demand from buyers and a fall in the number of houses coming on to the market last month helped suppress house price inflation.
Hometrack director of research Richard Donnell explained: "While demand and sales volumes look set to remain weak over the rest of the year, a lack of saleable properties looks likely to support achievable prices.
"In contrast weaker demand is likely to impact most on asking prices which tend to bear the brunt of any decline in confidence."
Recently, Rightmove also said that house prices in the UK dropped between August and September.
The company claimed that the introduction of Home Information Packs (Hips) had distorted the market and put people off buying and selling homes.
