Suffolk house prices are going througha correction period, where over priced properties are now being brought to a more realistic level, says Todd Lewis of Bychoice, Sudbury.
Hometrack say they're confident about the market despite almost a year of decreasing house prices...
According to the latest survey from Hometrack, May is the eleventh consecutive month that house prices have dropped, and the third month in a row where the fall was -0.1 per cent. Hardly a vast slide, but nonetheless it's down instead of up.
Hometrack aren't worried about this downward trend, however; with the last three price falls a mere -0.1 per cent, they argue that the market is stabilising. The average house price now stands at £161,900 compared to last month's £162,100, and down 2.3 per cent from May last year.
Housing market transactions have seen another marked improvement, according to the report, with sales agreed up by 7.6 per cent this month, only slightly less than April's increase of 9.4 per cent.