Fastest rise for 5 years
The latest house price figures are slightly misleading and confusing, prices in England have risen faster than at any time in the previous five years! But as mentioned this is based on a record low in sale numbers and this could fluctuate wildly, will we see the press fall on these variations as another recession?
I think that we can see that there has been a little recovery of seller confidence, when this rises further we will see a reliable rise in prices, the more property on the market the more it becomes a buyers market and prices are sure to fall.
External financial factors such as unemployment and stallled pay rises are all more important to the stability of the country that rising house prices. Lending to small businesses and mortgages are down significantly meaning there are still people being sceptical about the quick recovery the UK is experiencing.