Housing market 'showing optimistic signs'

by Christopher Evans

There were possible signs of an improvement in the housing market in the latest figures from Hometrack, published today.

According to its monthly national housing survey, the 0.3 per cent drop in house prices this month is the smallest monthly fall for a year.

Agents also said that volumes of sales saw a 15 per cent rise.

However, director of research at Hometrack Richard Donnell warned that the good indicators must be considered within a broader context.

"The volume of housing sales is set to be less than half the level that would constitute 'normal' market conditions," he pointed out.

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Meanwhile, Knight Frank reports that house prices in prime central London have gone up for the first time since March last year, seeing a 0.4 per cent increase.

The areas leading the rise were Chelsea, Kensington and Mayfair, which saw an April increase of over one per cent.

But Liam Bailey, head of residential research, also warned of a broader context and advised: "Don't read too much into one month's figures."

Published on: April 27, 2009

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