November saw house prices rise and more stock come on to the market. Halifax say that prices rose by 1.4% while Nationwide say the rise was only .5%
It is more difficult to work out what will happen next year. Some of the London agents are very cheerful, but no one knows how long their good spirits will last. Agents Marsh and Parsons forecast that London prices will rise by up to 7% next year while Cluttons say that December has been “unseasonably busy”. James Hyman their residential sales partner said “This has to be one of the best Decembers we have experienced in many years and could well be a record. We are experiencing a higher volume of agreed sales than at any time this year”.
Halifax reckon that house prices will be flat in 2010 but writing in the Times Geoffrey Dicks of Novus Capital Markets says “prices are far more likely to rise by another 5-10% in 2010 than to slump back”. Who knows!
If you have any experience of the house market in your area, especially for buy to let property please let us know. We are keen to find out how landlords and potential landlords view the situation.