Property Prices Static According to Nationwide Survey

Property Prices Static According to Nationwide Survey

The Nationwide bank’s monthly property prices survey suggests that property prices across the UK are remaining very static, having fallen 0.2% in the past month.

http://uk.reuters.com/article/2011/05/04/uk-house-prices-fell-02-pct-in-april-nat-idUKLNE74301I20110504

Whilst this might look like bad news, after a few years of uncertainty in the property market, I’d suggest that many property owners will take stability over runaway inflation or contraction of property prices.  I’d also suggest that it’s very difficult to make a much broader analysis of the property market or property price trends from this survey.

For a start, Nationwide’s finding are based on a survey of its own customers and not the whole market.  Secondly, it is a UK-wide statistic and ignores regional variation.  Thirdly, 0.2% one way or another is hardly a statistic that will put hope or fear into most people’s minds.

So, to steal someone else’s words, Keep Calm and Carry On and let’s see what other statistics come to light this coming month and year!

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I'm Robert Carroll, Managing Director of MOV8 Real Estate, Estate Agents and Solicitors. MOV8 is an innovative and forward-thinking estate agency and solicitor firm with its Head Office in Edinburgh, UK. It is one of the fastest growing firms in the east of Scotland. I see first-hand every day what is actually happening in the property market and am regularly quoted in the Scottish Press in property stories. Through this blog I aim to give an honest, fresh and sometimes light hearted take on what is happening in the Scottish property market for anyone who is interested in that kind of thing...

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