The UK property market has remained “steady” while house prices have remained flat in recent weeks, according to new figures released by Rightmove.
The property website said that in comparison to the previous month, there was 0% growth in the four weeks to June 8.
The average price of a property coming to the market during the period was £375,110 – a drop of only £21 from the record high of £375,131 recorded in May. Year-on year prices were up 0.6%.
Rightmove said that market activity had “remained largely steady" despite the stagnant figures.
The property website also believes that the upcoming general election is having little impact on the market, with the majority of buyers and sellers continuing with their plans.
In recent weeks, research has revealed that there is still a strong sense of optimism in the property market, even with annual house prices rising for the sixth month in a row at the start of June.
A spokesperson for Rightmove said its figures suggested that "activity is largely remaining stable" despite the general election being called.
They added: "The number of sales being agreed and the number of buyers sending enquiries to agents remain steady, with the vast majority of those already in the home-moving market continuing with their plans.
"One exception is possible election caution among some would-be sellers, which is most pronounced for those at the typically more discretionary top end of the market, some of whom appear to be pausing their plans to see how the next few weeks unfold."
Nathan Emerson, chief executive of estate agents' body Propertymark, said: "It's extremely positive to see stability within the housing market and despite a challenging period of high inflation and elevated interest rates, we are witnessing people approach the market with growing confidence."
He added that a cut in interest rates would help drive demand by potentially unleashing a "raft of competitive mortgage deals".
The Bank of England latest decision about interest rates will be announced on Thursday lunchtime, with most commentators predicting that it will be held at 5.25% for a seventh consecutive time.
