UK property market recovery sees prices fluctuate
House prices are likely to fluctuate as the market begins to recover, according to one property expert.
The director of MyMortgageDirect, Catherine Hearnden, said that as more people achieve sales close to their asking price, and few properties remained on the market, house prices would increase.
Her comments come as Nationwide announced that house prices rose by 0.5 per cent in November, the same level as the month before and year on year inflation in prices was increasing.
She said:" I think it's going to fluctuate because there is always a slight lag on these prices anyway."
Ms Hearnden added that as long as there were no more surprises in the global economy the property market should be on its way to recovery.
While MyMortgageDirect predicted a slow recovery in the market, others are being more optimistic. Figures released in November from the National House Building Council, suggested that investment in off plan property is on the up, as the number of new homes registered increased.
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