Property market recovery 'still not certain'
News Category: Industry News
Published: 08-Jun-2009
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Landlords with an eye on property market conditions have been advised the recent upturn in housing prices may not be indicative of an overall industry stabilisation.
Reports on average prices in May from Halifax and Nationwide have showed a month-on-month improvement on April's house prices, while Hometrack's index saw property costs stabilise for the first time in 20 months.
However, David Amstell, founder of online property site Briffy, warned that any increases may simply be reflective of the traditional summer buoyancy of the housing market.
He said: "It wouldn't be unreasonable to say that it's probably a seasonal thing. This time of year, people do [show more interest in moving house], even people that haven't been in the marketplace up until now."
Mr Amstell also forecast a negative impact upon the property market as a knock-on effect of the collapse of General Motors, warning that the negative economic repercussions will mean that the industry is "not out of the doldrums yet".
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