Less than half of housing market seeing price rise

01/12/2009

Comparing house prices today with six months ago, only 37 per cent of the market is feeling any sort of recovery.

This concern follows the news that millions of would be house buyers are stuck in negative equity with no sign that the price of their house will rise, despite house prices growing by 0.2 per cent in November for the fourth month in a row.

Hometrack said this means the average price is now 2.9% lower than they were a year ago when they were already sharply lower than 2007 highs.

Richard Donnell, director of research at Hometrack, said "A decline in demand is inevitable in the run up to Christmas but there are signs that the upward pressure on prices is likely to decline in the months ahead".

• Share
• 
• 
• Store
• 
• Follow
•