Movers welcome house price falls

Home movers want to see house prices stabilise or even fall, according to a recent poll by home move specialist Moveme.com.

Despite various warnings of a fall in consumer confidence and a bleak future for the housing market, consumers are welcoming the recent fall in house prices.

Only 13% of respondents to the poll wanted to see house prices rise in the short term, while over 80% of consumers indicated they would rather see house prices stabilise or even fall.

Keith McNeilly, co-founder of Moveme.com, said: “Contrary to a lot of the negative headlines, the majority of movers would rather see house prices fall than rise over the short term. Over the last eight years, house prices have increased by more than 120%. This level of growth was never going to be sustainable over the long term and as a result, the recent fall in house prices is being welcomed, particularly by those looking to step onto or move up the housing ladder.”

According to the poll, 39% of movers said they would prefer to see house prices fall in the immediate future, with a further 48% hoping to see prices stabilise, suggesting the recent fall in house price growth is good news for the majority of consumers.

McNeilly added: “The average price of a flat in May this year was £183,266, that’s over seven times the typical starting salary of today’s graduate and likely first-time buyer. The increasing plight of those at the bottom of the ladder is no secret and the current stall in house prices is likely to improve the affordability for those currently unable to afford their own home.”