27
Jan
House prices 'becoming more affordable'
UK house prices are becoming increasingly affordable as the market
adjusts, an expert has stated.
New figures from property website Hometrack have indicated a fall
of one per cent this month and the firm's director of research,
Richard O'Donnell, has said this situation - the 16th successive
drop - shows that sellers are finally realising that "realistic
pricing is vital" if they want to achieve a sale.
Such an understanding is "an important step" in the process of
market adjustment, he commented.
Mr O'Donnell added that the improvement in affordability has also
brought about a "modest" increase in interest from buyers, although
he suggested that the extent to which this trend progresses in the
coming months will depend on the wider economic picture.
Earlier this month the National Association of Estate Agents said
there had been a "slight" rise in buyer interest last month and a
larger one so far in January.
