Differing opinions on October price growth

Two new studies have presented contrasting pictures of the housing market in October, with one suggesting that prices rose by 1.2 per cent over the month and the other reporting a fall of 0.1 per cent.

Your Move has said that prices rose over the month, with the annual price now standing at £180,353 as a result, but according to Hometrack two months of no change in prices have given way to a 0.1 per cent fall.

This represents the first fall in prices for two years, Hometrack has said, with prices in the City and central London dropping by 0.5 per cent over the month.

Your Move, however, remains confident about the state of the sector.

"House prices have been levelling out over the autumn, but we are still seeing some inflation in the rate of growth," said Your Move managing director David Newnes.

"We expect the rate of house price growth to slow further over the coming months with further small price falls likely in markets where achievable pricing levels are falling into line with demand," insisted Richard Donnell, Hometrack director of research.

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