23 Jun

House price statistics show 'market is moving on'

House price statistics show 'market is moving on'

Two of the main publishers of house price indications – Nationwide and Halifax – are starting to "come together" to show that the market is now moving forward.

According to the indices, there have been slight month-on-month increases this year, which suggests that now may be a good time to consider investing in property.

Commenting on the findings, Peter O'Donovan, head of mortgages at Bestinvest, explained that although there is still a downsize on last year, there now "seems to be a lot of buyers on the market".

He added that "purchases are increasing, people are considering selling and moving on, and the properties will start to come back on the market".

According Nationwide, the average house price increased by 1.2 per cent in May 2009, compared to a 0.3 per cent decline in April.

This is the second rise in three months and the average property now costs £154,016.
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