Property prices to rise

A glimmer of good news at last on the property front. Recent figures suggest that prices might be moving up more quickly than most people expect.

It’s because of a combination of factors. There has been an increase in the number of people looking to buy a house. They have been encouraged by mortgage rate cuts and the promise of picking up a bargain as prices slide. And the second factor is that there are so few properties coming on to the market.

Put those two factors together and it’s suggested that house price falls could finish by the end of this year. Demand and supply are coming together more quickly than in previous recessions. It’s argued that the dire shortage of property on the market could result in an increase in average prices over the next few months.

The figures were collated by Rightmove, a property web site.