Mar­ket sta­ble but growth un­likely

Yorkshire Post - Property - - PROPERTY -

ANAL­Y­SIS of data from the lead­ing house price in­dices shows that UK house prices fell slightly in the third quar­ter of 2011, but are down only 0.7 per cent in the last 12 months, ac­cord­ing to As­setz.

Stu­art Law, chief ex­ec­u­tive of As­setz, says: “There is a pos­si­bil­ity that prices could fall back fur­ther given that we are see­ing a very sta­ble mar­ket over­all.

“Our pre­vi­ous pre­dic­tion of five per cent growth this year is no longer ten­able given the lim­ited progress made in the first three quar­ters, due to the im­pact of the Govern­ment’s aus­ter­ity mea­sures and the on­go­ing Euro-zone cri­sis.

“Un­em­ploy­ment, how­ever, has not im­pacted on growth to the ex­tent that was ex­pected.”

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