The proportion of asking price achieved remained static this month at 93.0%.
The time on the market has increased to 9.9 weeks, a rise from 9.5 (August) with some major regional variations across the country.
Time on market and % asking price achieved
The balance between supply and demand leads underlying house price changes by 3 months. The improved balance over the first half of 2011 led an improvement in the underlying rate of growth.
Supply demand balance leads price changes by 3 months
Figure 3 shows the proportion of postcodes registering higher and lower prices over time. The balance of change swung into negative territory over the autumn of 2010 but the extent of price changes has slowed as supply has tightened. Prices were down across 23.6% of postcodes in September 2012.
Proportion of the country registering higher and lower prices