Winchester is again bucking the housing market as commentators report a fall in prices nationwide, according to the city’s estate agents.

They say they are having one of their busiest periods, with demand still booming and no shortage of buyers.

It comes after the latest RICS Housing Market Survey showed that house prices fell significantly nationwide last month as supply outstripped demand.

Graham Evans, managing director of Penyards in Winchester, said differences in prices across Britain varied significantly.

He said: “If you break it down into local regions there are some that are suffering, but areas like Winchester and the north of Hampshire are one of the strongest and most resilient areas.”

He said it was wrong to think the econonic climate is to blame for prices falling nationally.

“We have had small periods where supply and demand were out of synchronisation in 2002, 2004 and 2006,” Mr Evans said.

“The cycle that we are in at the moment is not as a consequence of post-recession. It just happens from time to time.

“It’s more difficult to obtain the best price because there is more competition in the market, but you can’t make a statement that house prices are falling across the board, it has to be based on a larger trend — not just 60 to 90 days.”

He added: “It also has to be happening all over the country, and that’s not the case.”

He predicted that Winchester house prices are about to embark on a five to six-year cycle of growth which will be punctuated by slow down periods.

Steve Moore, director at Savills in Winchester, said Hampshire had not been affected by falling house prices as much as the rest of the country.

He said: “Due to the good weather and summer holidays we have seen it quieten down a little, but that is not a significant change or something we should be concerned about.

“We have noticed across the South East that the number of properties in July 2010 compared to July 2009 is up by nearly 50 per cent, and the number of applicants wanting to purchase properties is marginally down this year.

“We might see the situation calm a little before Christmas, and I don’t think we will see house prices fall.”

Matthew Hallett, a partner at Carter Jonas in Winchester, said the city was still popular and good value for anyone moving from London because of easy access to the capital, and the district’s premier schools.

He said: “I have never known there to be an oversupply of houses on the market in Winchester.”

He added that short-term stock market falls had probably affected the national prices, but that would not last.

He said July had been one of its busiest months and August was also looking good.

John Leeson, managing director of Belgarum estate agents in Winchester, had similar news.

He said: “This July has been our busiest month since July 2009 in terms of sales, and August is not showing much sign of slowing down.”

The RICS survey blamed the national slump on difficulty in securing mortgages, higher deposits required, and increased uncertainty about the prospects for the economy.

The report added that the abolition of HIPS in May this year and the changes to Capital Gains Tax could see an improvement in the property market.

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