Property Market Outlook Is “Mixed”

In the current economic climate, the news about property market trends are truly abundant. Here house prices go up, there the house prices go down… As mortgage market seems to relax a bit and more available products come to the market, any landlord or property investor  asks the question: what should I do? what should I believe of the reports I’m seeing? should I wait longer, if house prices are to go down or should I invest now?

Property expert Catherine Hearnden, MD at MyMortgageDirect, believes there is a great deal of uncertainty about what the future holds for house prices at the moment. The future of house price growth is being dependant on which part of the country people live in; that simply leaves the current outlook for the housing market mixed.

The comments come after a new report by Nationwide which found that house prices increased by 0.4% in October, the price of a typical home is now 0.8% higher than at the same point one year ago.

Ms Hearnden went on to explain how assumptions that prices will drop may not be accurate: “Everything I have read from everywhere else, seems to think that they will go down. It seems to be mixed and I think it will depend upon what part of the country you’re in and what the property is. I really don’t think that anybody can predict it.”

According to Ms Hearnden London will be a good indicator to what will happen elsewhere; she noted that many people predict if house prices level off in London, then everywhere else will follow and said it is wise to look at London as a guide to what is going to happen.

As property professionals Force 10 Property Management is keeping a close eye to the market to give timely updates of how market performs. We aim to provide information and advice to landlords and property investors, to be a trusted partner to enhance property returns.

Therefore please do keep an eye on our website and on our regular newsletter to keep abreast of market trends.

Source: Zoopla