Falling house prices should be good news for intending buyers but many are thwarted by the intending seller’s decision to stay put rather than accept a fall in value. This is not true with newly-built homes. Once a home is completed the builder wants to sell.

Depending on where you read the figures, house prices are estimated to be down by at least eight per cent compared with this time in 2007. That represents a fall of £15,000 in the price of the average house.

This should be good news for intending buyers, according to David Collett, spokesman for property portal www.NewHomesForSale.co.uk, but only if they can find a suitable home to buy. It seems that many cannot.

"The average number of sales per estate agent per month is at the lowest ever recorded," said Mr Collett.

"Approaching half of all the transactions started by estate agents are falling through because of the seller’s reluctance to accept lower offers and their decision to stay put rather than recognise that their home is worth less than it once was.

"All of which is not true of newly-built homes," he continued. "Once a home is completed the builder wants to sell. Staying put is not an attractive option as empty homes are costly to fund and to maintain.

"Builders hate to cut prices every bit as much as private sellers but they are realists. If special offers, including a price cut, are the way to attract buyers then special offers and price cuts there will be. And there are many.

"All over the country new home prices are lower than they were. Prices shown on www.NewomesForSale.co.uk are regularly being adjusted down. Cuts of £10,000 and £20,000 are common, often in addition to a range of other incentive offers.

"If you last looked at a newly-built home some months ago, take another look now, you may well be pleasantly surprised."