Rics comments on Nationwide housing market figures
www.moneynews.co.uk > Housing market > Rics comments on Nationwide housing market figures
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Money News |
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Rics comments on Nationwide housing market figures
Fri 3rd Apr 2009
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Statistics published by the building society revealed a rise in house prices of 0.9 per cent between March and February, compared to a 1.9 per cent slide between January and February.
Rics said that the market performance shows house prices are "out of intensive care" after a "torrid" 12 months, but warned that a return to normality may not be as imminent as many would hope.
The organisation argued that mortgage activity still remains much lower than witnessed in previous recessions and that a house price trough may yet be reached.
Rics' sentiments echo those of Nationwide's chief economist Fionnuala Earley, who advised that it is "far too soon" to begin looking for light at the end of the tunnel.
Click here for more housing market news.
Related News : Housing market |
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Related News : Nationwide |
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