House prices have been stagnant for five years since the run on Northern Rock in September 2007, property website Rightmove said today.
The average asking price of a property coming onto the market stood at £234,858 over the month, fractionally down on the £235,176 being demanded by sellers five ye ars ago.
The stagnation contrasts starkly with the five years from 2002 to 2007, which saw an inflation-busting 55 per cent boom in average selling prices as the market overheated before the sub-prime crisis.
Director Miles Shipside said: "Back in 2007, few would have believed that house prices would still be the same in five years' time."
The stagnation contrasts starkly with the five years from 2002 to 2007, which saw an inflation-busting 55 per cent boom in average selling prices as the market overheated before the sub-prime crisis.
Director Miles Shipside said: "Back in 2007, few would have believed that house prices would still be the same in five years' time."
No comments:
Post a Comment