Embargoed Monday 19 th September 2005 Buyers return as asking prices drop

The September edition of the Rightmove House Price Index shows asking prices have fallen for a 3rd consecutive month.

In the last three months asking prices have fallen by over 3,200, a fall of 0.4%.

The UK property website survey also shows that August activity outstripped expectations, halting increases in unsold property stock.

The results suggest that the year long sales recession is coming to an end as buyers are tempted to return by realistic pricing.

Miles Shipside, commercial director at Rightmove.co.uk, says: “We may look back with hindsight and say that the summer of 2005 was the time to buy at the bottom of this cycle in the housing market.”