Nationwide's house price index reported falling prices in February, signalling that conditions are improving for first-time buyers.
The average house price fell around one per cent this month, ending a nine-month run of price rises.
However, the fall could be attributed to factors such as the much talked about impact of the stamp duty holiday and unexpectedly adverse weather conditions.
Martin Gaubaheur, Nationwide's chief economist, said: "This drop in demand seems to have fed into agreed prices during February.
"At this stage, it is difficult to gauge how much of the drop in housing activity is attributable to one-off factors and therefore whether February's fall in prices is just a temporary blip or the start of a new trend."
First-time buyers may also have been cheered by the news this week that the highest number of products are available on the mortgage market since March 2008, with a few deals that specifically target buyers with very small deposits.
See Also: Property News (0)
Date Published: 26 February 2010
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