House prices will remain low

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Recent figures show house prices may have stabilised in May, but one expert has suggested they could remain low for a significant period.

Hometrack research revealed property values remained constant between April and May – the first time this has occurred in 20 months.

However, Savills director of residential research Lucian Cook suggested the average cost of £155,600 is historically low and could remain as such for a while.

"I think you could see odd months where you see rises and you see falls," he predicted, as opposed to a straightforward bounce back.

Those waiting for the market to recover before selling could be waiting a while, if Mr Cooks predictions are correct.

Some may decide to invest in a home improvement such as a conservatory, which a recent Halifax survey found to be perceived as the modification likely to add the most value to a property."ADNFCR-1495-ID-19196414-ADNFCR"

 

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