Halifax Predict Stable Prices
Posted on 19th December 2011
A forecast by Halifax has stated that property prices will continue to remain stable into this time next year. They have predicted that there will be no more than a 2% increase or decrease either way, claiming that there will not be another downfall in the market over the next year.
Currently house prices stand at an average of £161,731 with a similar figure to what ended in 2010.
Martin Ellis, Housing economist at Halifax, commented: “House sales and the supply of properties on the market for sale have remained very stable since late 2010. These steady market conditions have helped to stabilise house prices and sales. As a result, the average price is currently little changed from that at the end of last year.”
With the base rate expected to be at 0.5% throughout 2012, homeowners should be able to benefit from being able to afford their repayments and raise their levels of debt as people will be encouraged to pay down their mortgages.