Some houses still increasing in value, expert says
Property prices are still increasing in some parts of the country despite talk of falling house prices across the UK, an expert has said.
According to figures published by mortgage lender Halifax last month, house prices have fallen by more than 12 per cent during the past year.
But Peter Bolton King, president of the National Association for Estate Agents, told the Times that some properties have appreciated in value over the last 12 months.
National figures do not give the bigger picture of the UK property market, he said.
"It's all very well saying that prices are down 13 per cent on average across the country, but the market is made up of very localised patches that vary street by street," Mr King added.
Meanwhile, struggling first-time buyers have helped see demand for rental properties rise steadily in the past 12 months.
Figures from letting agents Your Move have showed a 50 per cent rise in demand for rented accommodation during 2008.
To book your free initial consultation with mortgages for professionals click here.
According to figures published by mortgage lender Halifax last month, house prices have fallen by more than 12 per cent during the past year.
But Peter Bolton King, president of the National Association for Estate Agents, told the Times that some properties have appreciated in value over the last 12 months.
National figures do not give the bigger picture of the UK property market, he said.
"It's all very well saying that prices are down 13 per cent on average across the country, but the market is made up of very localised patches that vary street by street," Mr King added.
Meanwhile, struggling first-time buyers have helped see demand for rental properties rise steadily in the past 12 months.
Figures from letting agents Your Move have showed a 50 per cent rise in demand for rented accommodation during 2008.
To book your free initial consultation with mortgages for professionals click here.
