Property prices are falling at their lowest rate for two years, sparking hopes that the end of the double-dip recession will boost the housing market.
According to the monthly national housing survey from Hometrack published today, year-on-year price deflation of -0.4 per cent is the lowest rate of falls since October 2010.
More positively, there are signs that prices are firming in northern regions with a steady decline in the size of the gap between asking and achieved prices over the last six months.
“There’s been a steady firming in underlying price levels in the north of the country, an area where values over the last 12-18 months have come under sustained downward pressure,” said Richard Donnell, director of research at Hometrack.
More positively, there are signs that prices are firming in northern regions with a steady decline in the size of the gap between asking and achieved prices over the last six months.
“There’s been a steady firming in underlying price levels in the north of the country, an area where values over the last 12-18 months have come under sustained downward pressure,” said Richard Donnell, director of research at Hometrack.
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