Positive signs for people selling property

Posted: 06 Aug 2009 12:11:48 GMT

Those selling property have been advised that house prices are moving "in the right direction".

Lisa Walker, marketing director at property website fish4homes, also suggested that the latest Halifax House Price Index figures - which showed a 1.1 per cent month-on-month increase in July - are positive news for the industry.

Despite welcoming the latest statistics, which come a week after Nationwide Building Society indicated that expectations about house price rises are at the highest level for 19 months, Ms Walker warned that market recovery will be slow.

"Whilst confidence in the economy has started to come back and some have been able to benefit from low interest rates, favourable mortgage rates are still very much limited to those with access to large deposits or equity in their property," she explained.

According to Nationwide, consumers are forecasting that property prices will rise by 0.5 per cent over the next six months.


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