House price rise 'will not last'
www.moneynews.co.uk > Housing market > House price rise 'will not last'
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Money News |
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House price rise 'will not last'
Thu 8th Oct 2009
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Helen Adams, managing director of Firstrungnow.com, made her remarks following the release of the Halifax House Price Index for September, which saw a monthly rise of 1.6 per cent.
This is the third consecutive month of growth.
Ms Adams commented that it is a good sign that the housing market is recovering, but she is not convinced that prices will continue to rise, even if first-time buyers are currently being put off buying property.
She explained: "First-time buyers at the moment are being very sensible, they are watching the market to see what [will] happen with house prices. I think that they will peter out in the coming months."
In her view, prospective homeowners are being cautious at the moment, whereas those selling property are happy to go through with transactions because they are able to make more money from a sale thanks to price rises.
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