Property prices 'will fluctuate'
Property prices are likely to fluctuate over the coming months as there tends to be a "slight lag" when house price increases are reported, one sector commentator has stated.
Catherine Hearnden, director of MyMortgageDirect, said that the housing market may indeed be starting to recover if the worldwide economy has no more hidden surprises.
"I think it's going to fluctuate because there is always a slight lag on these prices anyway. Although House prices might [go up] they would be very, very small increases as it could fluctuate," she added.
Her comments come after Nationwide revealed that House prices have risen by 0.5 per cent in November 2009, the same rate as in October.
Such news may convince people that looking for flats to rent in Hammersmith or another part of London will be cheaper than attempting to buy in the same area.
This may particularly be the case as Nationwide reveals that the average house price in October was £162,038, while it now stands at £162,764.
Written by Chris Price
Published 3rd December, 2009
© 2009 Estates IT Limited
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