16th June 2009

PROPERTY PRICES RISING!

Following encouraging data from the Halifax, May saw an unexpected rise in property prices of 2.6%. The rise was even more surprising when compared with the economy as a whole. 300,000 jobs cuts nationwide and the worst first quarter industrial sector figures for several years.

It seems that even though there is doom and gloom in the economy, there are still investors and even a few first time buyers picking up properties at the bottom end of the 'recession'. According to figures, we are now bobbling along the bottom and can expect to see improvement in both industry and retail in the 4th quater of 2009.

This will be welcome news for a beleaguered property market where many find themselves in negative equity due to over-borrowing. Watch this space for the next 'positive' news.