Debt solutions news: Rise in house prices slowed

12/01/2010

People, who may be struggling with debt while looking for a house, could find their debt problems are eased as the rise in house prices has slowed.

House prices have become steadier as the gap between supply and demand has narrowed, the latest RICS UK Housing Market survey has found.

Only 30 per cent of chartered surveyors reported a rise in house prices in December, this was down from 35 per cent in November.

Homes in London, the south-east, the south-west and East Anglia are still seeing an upwards trend, while those in the North and the West Midlands are not yet as strong.
RICS spokesman Jeremy Lead commented: "The recent loss of momentum in prices and the moderation in new buyer interest can be in part attributed to the housing market pulling down its shutters for Christmas.
"It is likely that the New Year will see more interest and activity in the market as those who held back start to market their property with renewed optimism."
The average home in the UK is now worth around £169,042, according to the Halifax bank.

Kevin Still, director of EuroDebt said: "With many leading mortgage lenders putting up their Standard Variable Rate (SVR) and continued uncertainty in the housing market, the prospect of indebted homeowners being able to release equity to settle unsecured debts is only available to a few as a debt solution.

"Payment problems through the recession may also impact their ability to obtain the best mortgage offers, though the number of products has increased markedly since the same time last year."

Tags; Current UK Economy, Housing Debt and Bills,

Regional Debt Advice; Debt Help London, Debt Help West Midlands,

• Share
• 
• 
• Store
• 
• Follow
•