12 Jul

Homebuyers looking for houses for sale 'should not get hung up on prices'

Homebuyers looking for houses for sale 'should not get hung up on prices'

Estate agents should not let potential homebuyers get caught up in property prices when looking for houses for sale, an expert has said.

According to the director of property website Mouseprice.com Selwyn Lim, people should not place a lot of weight on the changes in property values from one month to the next.

Instead, Mr Lim suggested that homebuyers would get a clearer indication of the housing market by looking at trends over quarterly periods.

He said: "I don't think there is a reason for homeowners to get hung up on what is happening in the wider economy. They should always be making decisions based on factors that are specific to them."

The comments come after Halifax released its house price index earlier this month, which revealed that house prices dropped 0.6 per cent from May to June.

However, it also showed that between April and June, the value of properties had remained relatively unchanged with a fall of just 0.1 per cent compared with the first quarter of 2010.

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