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Stuart Law, Chief Executive of Assetz, comments on Nationwide’s latest index, which reported a monthly house price fall of 0.5% in February

29th February 2008 | back to article listings BACK    print this article PRINT

"To a large degree, Nationwide’s latest index, which records a house price fall of 0.5% for February, is still reflecting sales agreed in the more depressed period leading up to Christmas.

“However, since the New Year the market appears to be picking up, with asking prices starting to increase, suggesting a renewed confidence from sellers. I would expect to see average annual house price growth of between 0% and 3% year on year between now and April, before prices start to move cautiously up again, ending on 5% annual growth for 2008.

“With the supply/demand imbalance set to worsen, as many parts of the country experience a complete cessation of new build schemes being started, the total stagnation or fall in house prices predicted by some is just not a reality in the current market."

 

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