Andrew Smith, Primelocation.com's Head of Research, comments:
Asking prices in London's prime market have been on the rise for the past four months, but in March they fell by 0.5%.
March also saw the first rise in stock levels in six months (6% month-on-month) and traffic to Primelocation.com also increased significantly. Over 2.1 million people visited the site in March; traffic up by 5% over the month and by 33% year-on-year resulting in the highest level of traffic since April 2007.
The increase in the levels of both supply and demand suggests that consumers are increasingly confident about the current state of the market, a conclusion supported by recent research by Primelocation.com. This found that 23% of property searchers believe that the market has already reached its lowest point, while 53% believe prices will be at their lowest between April and December 2009. view PDF