Land Registry figures hint at housing market stabilisation
News Category: Industry News
Published: 02-Jun-2009
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Land Registry figures for April have demonstrated that the rate of decline in the housing market has remained stable from March.
House prices fell by 0.3 per cent in April, compared to 0.4 per cent in the previous month, while residential property values in London showed a month-on-month increase of 1.4 per cent.
Though average prices remain 16.2 per cent below the level of April 2008, the current market fluctuations are being interpreted by some as a sign of recovery.
Responding to the figures, Keshav Thuram of smartlandlord said: "Prices will continue to fluctuate for some time, but yo-yoing prices coupled with an increase in buying activity indicate that we may now have reached the bottom of the market."
He added that current market conditions were favourable to landlords looking to make an investment in affordable property.
However, Capital Economics offered a more cautionary view, stating that sustained market recovery may yet be "a long way off" despite the easing in the rate of house price decline.
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