'Surprises around the corner' in property market

Posted: 04 Dec 2009 12:33:07 GMT

There will always be surprises around the corner with regards to the property market, according to one industry expert.

Catherine Hearnden, director of MyMortgageDirect, predicts that because of this factor, house prices will fluctuate for the foreseeable future.

However, she goes on to say that whether the housing market truly recovers depends on if there are any more hidden surprises with regards to the worldwide economy.

According to Nationwide, UK house prices rose by 0.5 per cent in November, the same figure was applicable in the month of October.

The average house price has also risen slightly from £162,038 in October to £162,764 in November.

While Hometrack statistics assert that house prices have gone up for the fourth consecutive month, they also state that there are large parts of the country where prices remain unchanged.

Compared to a year ago, house prices are higher across just two per cent of the country.

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