The National Association of Estate Agents has said that house prices fell again in November but there were some positive signs.
Property continued to drop in value last month but other statistics point to a more optimistic outlook, the National Association of Estate Agents (NAEA) has said.
All types of home dropped in value during the month, with the average semi-detached property losing £7,863 from its price, leaving it at £192,042. The average number of sales conducted by agents also fell from seven to six, although this is still higher than August's low of five.
However, people's reluctance to move over the festive season means November and December traditionally see low numbers of sales, according to NAEA president Chris Brown. Taking this into account, the figures were "not as bad as expected", he said.
"In fact, while it may seem a meagre offering, the glimmer of positive news that some of these figures reveal can give estate agents across the country some hope for a more prosperous 2009," Mr Brown added. "The market is still waiting to feel the impact of recent interest rate cuts, and if the major lenders commit to making mortgages available to those who want to buy then the market should improve next year."
The report also showed that the proportion of first-time buyers in the market continued to increase, reaching 10.4 percent. Mr Brown said that many would want to get onto the property ladder next year.
