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Residential property prices 'barometer of confidence'
Those considering investing in residential property may be interested in claims the price of such real estate is a reflection of sentiment about the country's overall finances.
Ben Wilkie, editor of What Mortgage, says: "House prices are a barometer of the confidence in the economic situation."
At the moment there is a certain level of concern over the position Britain is in, which means it is fair to say house prices will be unpredictable, he continues.
Nationwide recently reported house prices dropped by 0.9 per cent in August compared with the previous month.
And chief economist Martin Gahbauer stated this is the first time a drop has occurred for two consecutive months since February 2009.
It may well be good news for those who are looking to purchase residential property, as this could mean the investment is likely to cost less than it would ordinarily be priced at, although sellers may have an alternative view.
Posted by James Collins
Ben Wilkie, editor of What Mortgage, says: "House prices are a barometer of the confidence in the economic situation."
At the moment there is a certain level of concern over the position Britain is in, which means it is fair to say house prices will be unpredictable, he continues.
Nationwide recently reported house prices dropped by 0.9 per cent in August compared with the previous month.
And chief economist Martin Gahbauer stated this is the first time a drop has occurred for two consecutive months since February 2009.
It may well be good news for those who are looking to purchase residential property, as this could mean the investment is likely to cost less than it would ordinarily be priced at, although sellers may have an alternative view.
Posted by James Collins
Mon, 6th Sep 2010