May 28 2003
Property analyst, Hometrack, has reported in it’s May market survey that housing prices have remained stagnant in one quarter of the northern counties with the others slowing sharply. The South continues to fall but at a slowing rate that points to some stabilisation.
Hometrack’s housing economist, John Wriglesworth, says, “National house prices have fallen for the second month in a row and the North-South divide continues. While the stagnation is likely to persist over the next few months, there are clear signs that the market is bottoming out. Price falls in the South have stopped increasing whereas price rises in the North are showing signs of easing. With the Iraqi war over, there are some signs of increasing housing activity which will help support house prices in the latter half of the year. We continue to forecast 4% national house price rises for this year for the country as a whole.”
Source: Hometrack