Recent figures from Hometrack have revealed that the housing market in the UK is now at its most stable in 20 months, with the average house costing £155,600 in May, the same figure recorded in April.
Furthermore, the Land Registry recently noted that house prices fell by 0.3 per cent in April 2009 compared to a 0.4 per cent fall in March, showing signs that the market is reaching a plateau.
Commenting on the figures, Lucian Cook, director of residential research at Savills, stated: "We are in the process where certainly we have seen by far the worst of the house price falls and we should be getting towards a position where prices now bump along the bottom for a period."
He added that he believed house price falls would be capped at 25 per cent.
Britons looking to take advantage of lower prices by moving home may first consider giving the value of their existing property a boost.
The Energy Saving Trust notes that improved
insulation and energy-efficient central heating can attract buyers with the promise of
lower utility bills.
