European house price slump 'slowing'
first-time buyers are being told that the UK housing market may be overvalued by more than 20 per cent.
Data from Standard and Poor's published, a renowned global credit rating agency, on Tuesday (June 1st) looked at property prices across Europe including in Britain and suggested that a price slump that had been happening since the end of 2007 is slowing down.
Furthermore, its findings indicated that housing markets were pulling out of a correction in value as nominal prices "continue to exceed 2005 levels" across the continent with the exception of Ireland.
According to its affordability ratio, British homes are said to be overvalued to the tune of 21 per cent.
Research suggesting that houses on the market have been overvalued by 21 per cent in the UK may encourage more people to consider looking for property to rent in the London borough of Enfield or elsewhere in the country.
By Charles Mackay
Published 3rd June, 2010
© 2010 Estates IT Limited
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More people may be encouraged to look for property to rent in the London borough of Enfield or elsewhere in the country after research indicated that the UK housing market is over valued by around 20 per cent.