New research has revealed that the average house price in the UK is at its highest level since December 2008.
A Hometrack survey has shown an increase in house prices for the ninth month in a row, although April’s 0.2% rise was down on the previous month’s 0.3%.
The average price for a house in the UK now stands at £158,400.
In spite of this, the amount of the asking price being received by sellers failed to rise for the first time in 13 months, staying at 94%.
The slowing down of price rises has been blamed mostly on the impending general election, with buyers thought to be unsure of what the future holds for them. This is resulting in the supply of homes for sale outweighing demand, decreasing prices that sellers can expect for their property. Even so, it can still be considered a good time for those wishing to take CeMAP training with a view to getting into the mortgage advice business.
Richard Donnel, director of research at Hometrack, said: “It was clear that given the strong end to 2009 that spring 2010 was unlikely to compare with a traditional start to the selling year,
“There has been evidence for some months that the supply/demand balance has been changing steadily but the buyer slowdown has been exacerbated by the announcement of a May election.
“The outlook for the economy and jobs market as well as household finances all impact on housing demand and buyer behaviour.”