People wanting to sell their homes are advised to adopt a sensible pricing policy according to estate agent network, TEAM, who confirm house prices have now slowed to a stop.

TEAM’s latest national survey shows that nationwide the average price of homes “under offer” was £195,746 in mid-August compared with £195,489 in July, an increase of just 0.1%. On average, properties are now 13.2% more expensive than 12 months ago.

The survey is based on data supplied by 558 offices of TEAM members in 16 regions across England and Wales. It reflects a daily average of 4,476 homes listed as under offer by agents in the four-week period to mid-August.

Prices in most regions showed little movement in the month, although South Wales reported an increase in excess of 5% and there was an increase of more than 2% in South Hants. The biggest rise over the past year is still in South Wales, where average prices are 30% higher.

TEAM’s national chairman, Philip Muzzlewhite, commented, “Just as we predicted in May and June, a levelling off of the price rises in August bodes well for a good steady autumn without significant rises and falls.”

Jim Atkins, a past president of the National Association of Estate Agents and a TEAM member based in Dorset, said, “The levelling off of prices in August was good news for the property market. The slow down should ensure that we see a healthy autumn with a good level of transactions, but at controlled rather than spiralling values.”

John Dennis of East Yorkshire said, “I suspect there are more difficult times ahead. Sensible pricing is high on our list of recommendations for prospective sellers.”