Property market 'will remain volatile'
Current trends in supply and demand indicate a volatile house price market lies ahead, one sector commentator has claimed.
Recent research by the Royal Institution of Chartered Surveyors revealed the rate of house price increases has risen more slowly for the month of December than in preceding months.
The UK Housing Market survey for the closing month of 2009 found that although 30 per cent more surveyors saw prices rise rather than fall, the positive balance stands at a lower figure than the previous months of October and November.
Commenting on the news, Lucian Cook, director of residential research at Savills, said there was a stand out convergence between the number of new buyers and the number of properties being put on the market.
"What we tend to see right now is people see more stock to the market, while we don't see the same growth for the number of new enquiries coming through the door," he noted.
Mr Cook added that one way to ease this problem was to make more 90 per cent loan to value mortgages available on reasonable terms.
Britons who have encountered difficulties in securing a mortgage may find flats to rent in Shoreditch or another part of London are more affordable than taking on such a loan.
Written by Chris Price
Published 14th January, 2010
© 2010 Estates IT Limited
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If current trends in housing supply and demand continue, the property market is likely to remain volatile, it has been claimed, which may prompt Britons to consider flats to rent in London instead.