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01/06/2009
House price fall stops, survey shows |
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UK house prices have stopped falling, a new survey has indicated.
Data from the latest Hometrack study revealed that prices in May remained the same as in April, the first time in 20 months they had not fallen.
The figure comes after Nationwide's May statistics indicated a 1.2 per cent price rise, the second increase in prices it had revealed in three moths.
Director of research for Hometrack Richard Donnell cautioned that transaction levels are still historically low and that any recovery may be fragile.
Those who want to buy a property now may wish to speak to a solicitor about the various aspects of such a transaction.
Commenting last week on Nationwide's figures, the lender's chief economist Martin Gahbauer said that while there should be a note of caution over the data, the fact was that "an improvement in house price trends is consistent with signs of stabilisation in several other economic indicators".
Written by Anthony Dyson
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