Housing drops 'slowing down'

Recent research has found that the housing market is beginning to stabilise, it has been reported, as many factors connected to the buying process are now showing less symptoms of decline.

Recent research has found that the housing market is beginning to stabilise, it has been reported, as many factors connected to the buying process are now showing less symptoms of decline.

Factors such as the amount of time it is taking to make a sale, the number of viewings made before a sale is agreed, and the number of sales falling through are all now moving away from symbols of a deteriorating market, and becoming indicative of a market which is steadying out.

The news comes as the Royal Institution of Chartered Surveyors noted a rise in the number of houses moving to the rental market, suggesting that in fact supply may well dry up soon.

However, a steady market can offer vendors more power in the market, which could give banks more confidence in lending, freeing up the currently-stagnated market and ensuring a faster cashflow.

"The good news is sales are not getting any worse, which is encouraging," said Peter Bolton King, group chief executive of the National Association of Estate Agents.

"There are one or two green shoots, perhaps due to some lenders relaxing qualifications to get a mortgage."