House prices up in March

[mortgage_advisor]

Nationwide today said that average property prices increased in March by 0.9%, the first rise since October 20078.

However Fionnuala Earley, Nationwide's chief economist was quick to dampen any thoughts of a recovery, stating "it is far too soon to see this as evidence that the trough of the market has been reached" and that quantitative easing and low interest rates would take more time to filter through the economy and lead to a sustained recovery in the housing market.

This will still come as positive news to anyone who currently owns a house and has been watching their equity gradually drain away. Combined with news that buyer interest is up and mortgage loan approvals on the rise, it certainly paints a prettier picture than some of news over the past year.

[Property Cashpoint]

I agree it does sound bit more positive. I'm glad a friend of mine bought a starter house shortly before the crash with a 100% mortgage they've been finding it hard.

[glen_jai]

I think that in UK, when the weather starts warming up, more people want to look at property and so it usually results in more sales.
So perhaps it's due to the better weather. I think summer is usually a good time to market your property for sale.

[love-home]

Originally Posted by mortgage_advisor

Nationwide today said that average property prices increased in March by 0.9%, the first rise since October 20078.

However Fionnuala Earley, Nationwide's chief economist was quick to dampen any thoughts of a recovery, stating "it is far too soon to see this as evidence that the trough of the market has been reached" and that quantitative easing and low interest rates would take more time to filter through the economy and lead to a sustained recovery in the housing market.

This will still come as positive news to anyone who currently owns a house and has been watching their equity gradually drain away. Combined with news that buyer interest is up and mortgage loan approvals on the rise, it certainly paints a prettier picture than some of news over the past year.

Hogwash.
Property prices are static to falling, very slightly but falling.
I own several properties that are let and in an effort to dispose of one which is ina desirable area and good condition in the Canford Heath area of Poole, have found it impossible to do so anywhere near a sensible price.
Finally and reluctantly have now agreed to a sale price, some £8000 more than I paid for it in 2006.
I hasten to add that it was purchased at a sensible price at the time.