UK Money News
20th May 2008
Assetz: No firm evidence of house price crash
Reports of a crisis in the UK property market are exaggerated, a new study suggests.
According to Assetz' House Price Watch, which collates the results of the UK's five major monthly house price studies, the cost of a home has grown from £208,735 to £211,014 over the last 12 months.
This is an increase of £1,300, or 1.7 per cent.
Stuart Law, chief executive of the property investment group, said that the findings were indicative that the downturn inhte market being reported is nothing like as marked as has been suggested.
He said "While house prices fell by 0.6 per cent in April, prices remain up on the previous year and I am yet to see any firm evidence of a housing market crash."
Mr Law also urged consumers to see the recent month on month declines in the market as a positive move that the market is stabilising and that the era of unsustainable growth has come to an end.
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