What Rightmove is terming ?Autumn Optimism? has apparently flooded into the housing market, as it says that in the past month sellers have raised their asking prices by 0.5%, halting the three month slide, leaving prices up 1.5% year on year.
According to the property website, over 100,000 sellers entering the market have pushed up asking prices, and this has led to a downward shift in unsold property stocks from a peak of 73 in May to 71 last month.
Rightmove says that despite some commentators predicting a significant fall in prices before a recovery, this has in fact not taken place, and buyers now have the confidence to re-enter the market as the threat of losing money on a purchase has receded.
Miles Shipside, Commercial Director for Rightmove said: ?After five years of booming house prices, followed by a year-long worry about a crash, we appear to have had a ?soft landing?. Now we have touched down at a sustainable level of pricing, buyers and sellers are gaining in confidence.
However, don?t expect the market to take off again until a refuelling by more first-time buyers, lower mortgage rates and a continuation of realistic pricing by sellers and their estate agents.?