Will house prices remain stable?
A monthly house price index by FindaProperty.com has revealed that the asking price for properties has fallen by 0.5 per cent since October.
However, Catherine Hearnden, director of MyMortgageDirect, said that it is still too early to determine whether this will lead to a drop in confidence or mean bad news for the housing market.
However, people may wish to loom for flats to rent in Notting Hill or another part of London until they feel that the housing market has regained some sense of stability, rather than risking buying a home.
Ms Hearnden said: "I don't think they [house prices] are going to do anything astounding. They [may] possibly rise with inflation, it depends upon the demand for property or the supply [and] it depends on how many properties are out there."
According to FindaProperty.com, at £218,654, houses prices are now 0.6 per cent lower than a year ago.
Written by Andy Britten
Published 17th November, 2009
© 2009 Estates IT Limited
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It is still too early to tell whether UK house prices will remain stable, it has been claimed, which may prompt Britons to consider renting instead.