Housing market on the up, says expert

A property expert has stated that the bottom of the housing market came in late winter and early spring this year.

Senior technical manager at mortgage brokers John Charcol, Ray Boulger, remarked that the evidence of house price surveys like Nationwide suggested the base of the market arrived around February.

This has been confirmed by later Land Registry figures, he added.

Mr Boulger also said that price rises can occur without a major increase in transactions, noting: “What matters is whether there are more buyers than sellers or more sellers than buyers.”

Such a finding may suggest that those seeking to buy homes may do well to look now, as these could become progressively more expensive in the months ahead.

Among the surveys indicating recent house price rises are the latest Department of Communities and Local Government statistics, which revealed a 2.6 per cent price rise in the three months to June.

These followed a drop of 3.8 per cent in the previous quarter.

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