No immediate recovery in house prices, expert predicts

A property specialist has responded to recent figures showing a stabilisation in house prices by claiming they are likely to remain at around the same low level for a while.

Savills director of residential research Lucian Cook suggested after 20 months of continuous falls, house prices were unlikely to shoot up from the current average of £155,600.

Research from Hometrack showed the typical value of a home remained constant between April and May, but Mr Cook suggested this should not be taken as a sign the market will bounce back to its former glory.

"I think you could see odd months where you see rises and you see falls," he predicted.

The experts comments may encourage some homeowners to invest in their property by adding a conservatory or loft extension to boost its value.

A report from HSBC at the beginning of May found the former could increase a residences price tag by over £7,000 on average, while the latter could raise it by more than £13,000.

Of the people adding space to their residence over the past year, 30 per cent told the researchers they had built a conservatory.