Times revisits property barometer

Posted: 08 Dec 2008 12:07:40 GMT

The Times has revisited its property barometer introduced earlier this year in order to take a closer look at the current state of the property market, it has been reported.

Following a year in which the Bank of England reported a 70 per cent drop in mortgage lending, many are of the belief that house prices are experiencing blanket falls in value but the research highlights some pockets of positive results.

The results show that town houses in York, for instance, have demonstrated resilience against falling house prices as a result of an increased demand from families upgrading their properties, while housing transactions in West Sussex are in fact rising.

Mark Revill, senior partner at West Sussex estate agents Mark Revill & Co, told the newspaper: "People are aware that house prices are nearing the end of their fall, so they are starting to get on with it."

Such news is likely to increase confidence among those hoping to sell a property, but to achieve a higher price, selling a property online may be the best solution.

Selling online can help buyers and sellers avoid high estate agent costs, and increase the number of buyers that see the property.

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