6 Aug

House prices "starting to move in the right direction"

House prices "starting to move in the right direction"

House prices are making positive steps in the right direction, according to a property expert.

Lisa Walker, marketing director at estate agent fish4homes, said that she welcomed the news from Halifax that house prices have fallen by less than one per cent in 2009.

Research by the building society revealed that the average house lost 0.8 per cent of its value in the first seven months of the year and now stands at £159,623.

"House prices are indeed starting to move in the right direction, but recovery will be slow," she cautioned.

Ms Walker added that confidence in the economy has started to come back and that some people have been able to benefit from low interest rates.

More optimism was reported in today's Nationwide Consumer Confidence Index, which showed that expectations about house prices are now at their highest level for 19 months, with consumers predicting a 0.5 per cent rise in house prices in the next six months.

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