Letting agents warned house price rise 'due to seasonality'

News Category: Industry News

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Letting agents and landlords have been warned that the rise in house prices could be down to the time of year rather than a recovery of the market.

There was a slight rise of 1.2 per cent in house prices in the first week of 2010, according to property website Rightmove, who advised landlords and letting agents that house prices are unlikely to rise during 2010.

Selwyn Lim, director of property website Mouseprice, said an influx of people wanting to sell their houses leads to the market becoming volatile, what he described as seasonality.

He said: "Seasonality is caused by people preferring to put their property on the market at the start of the year, as opposed to just before Christmas and the new year."

But landlords and letting agents could in fact have a better year in 2010 after housing minister John Healey said more people were now happy to rent their homes rather than to try and buy a house.

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