Property market outlook 'is mixed'
4th Nov 2011
The current outlook for the housing market is mixed, with future house price growth depending on which part of the country people live in, according to one property expert.
Catherine Hearnden, director at MyMortgageDirect, said there is a great deal of uncertainty at the moment about what the future holds for house prices.
It comes after a new report by Nationwide found that house prices increased by 0.4 per cent in October, with the price of a typical home now being 0.8 per cent higher than one year ago.
Ms Hearnden explained: "Everything I have read from everywhere else, seems to think that they will go down. It seems to be mixed and I think it will depend upon what part of the country you're in and what the property is. I really don't think that anybody can predict it."
She noted that many people predict if house prices level off in London, then everywhere else will follow and said it is wise to look at London as a guide to what is going to happen.
A lot of that will also depend on factors such as interest rates and jobs, which each have their own effect on the property market, according to the expert.
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