House prices are currently 11.1% lower than at their peak in 2008 making the average home in the UK cheaper by £21,700.

UK house prices are continuing to fall for first time buyers, according to a recent poll of polls by Chesterton Humberts estate agents.  Although falling prices suggests stagnation in the market for moving companies, at least a correction is taking place that may well allow more first-time buyers to get into the property market and kick off growth in the near future.  The same survey says that average house prices at the top end of the market are continuing their upward trend having risen by 3.4% in the last 12 months.

House prices are currently 11.1% lower than at their peak in 2008 making the average home in the UK cheaper by £21,700.  Robert Bartlett, Chief Executive of Chesterton Humberts said that mortgage availability remains a sticking point to kick starting the housing market. “But there are now clear signs that the bankers are opening back up for sensible mortgage lending,” he said.  “Providing rates remain low and the spread between the UK base rate and mortgage rates narrows, then we remain optimistic that the second half of 2011 and early 2012 will mark the start of a sustained recovery in house prices.”