Property market ‘on the up’

September’s property prices polls clearly show that the market is recovering, it has been argued.

Last month saw a 0.7 per cent increase in the average house value to £169,083, the Chesterton Humberts – centre for economics and business research poll of polls revealed.

Six of the eight surveys in the month showed prices on the up, with the annual rate of decline easing for the fourth month in a row.

This saw the annual fall in price dropping from 8.9 per cent in August to 5.9 per cent in September.

Such a finding may encourage those thinking of applying for a mortgage.

House price rises will not be stalled by a further surge in unemployment next year, chief executive of property company Assetz Stuart Law claimed in his blog recently.

He suggested that any public sector job losses caused by spending cuts will be counterbalanced by a recovery in private sector recruitment.

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