Spring 2010 could be property kick-start
The UK may be approaching the light at the end of the housing market slump after new figures show that the average house price has increased for the first time in two years.
According to the latest Hometrack survey, UK house prices grew by 0.1 per cent in August, although London, the south-east and East Anglia were the only areas to see positive growth.
But house hunters who have been unable to secure a mortgage to meet these increasing prices may instead prefer to look for flats to rent in Marylebone or other parts of London.
Commenting on the findings, Jane Marr, company director at the Little House Company, said that the south-east is traditionally the place where property prices are the highest so it makes sense for values to rise here first.
"There is now pent-up demand for people who want to move and we feel that spring 2010 will see buyers more inspired to make that move and [provide] a real kick-start to the UK housing market," she added.
Written by Martyn Glynn
Published 3rd September, 2009
© 2009 Estates IT Limited
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