2 Nov

UK house prices are not likely to rise in the next year

UK house prices are not likely to rise in the next year

Home buyers headed to estate agents who are able to secure finance for their mortgage over the next year will face good news in the fact that house prices are unlikely to change.

In the past few days, it has been announced by Nationwide that house prices across the UK fell by 0.9 per cent in the last year, and they could remain stable for another 12 months, an expert has said, maintaining the notion of a buyers' market.

Dr Catherine Hearnden, chief executive of MyMortgageDirect, said that there are still people struggling with finding a deposit, but that this should not be lowered, as it could see a return to reckless lending which led to economic downturn in the UK in 2007.

"I do believe there should be help for first-time buyers but not to the point where they are ending up borrowing more than they can afford," Dr Hearnden added.ADNFCR-1222-ID-801481547-ADNFCR

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