A monthly report released by Rightmove has shown that asking prices fell by more than £5,000 in the last month as sellers who have problems with payments and rising interest rates continue to cause problems within the housing market.

Rightmove blamed mortgage lenders for continuing to raise their rates on mortgage loans in the current climate, but also advised that there is typically a lull in housing prices at this time of year due to many people going away on holiday, reducing interest in buying property.

The report added that sellers tend to be more aggressive in the summer months with their pricing, not only because they need to sell but also because they are aware there are less people who are buying.

The property website also said that while asking prices had dropped by £5,102, an average of 2.2 per cent, this was not necessarily a sign of another disaster for the housing market since the figures mirror a fall in prices in August 2008.

Rightmove also reported that the pricing lull has not affected the number of buyers continuing to return to the market to buy property, with last month recording the busiest month of 2009 for buying traffic.

The report also suggested that property buyers are not expecting any more housing pricing falls during 2009, showing increasing confidence in the stabilisation of the market.

Other figures also support this notion of the housing market starting to stabilise. A survey by the lender Halifax has found house prices to be on the rise, with the average price of a home going up 1.1 per cent to £159,623.