Agreed prices up in October
House prices have recovered slightly in the past month, according to the latest market survey to be published.
Estate agency group Your Move reported that agreed house prices in the UK fell during September, but its latest figures show that the average agreed price has risen by 1.2 per cent to £180,353 in the past month.
The company's managing director David Newnes suggested that September's dip was caused by the Northern Rock crisis and the introduction of the home information pack scheme, and that October's recovery is a sign that mortgage borrowers remain confident about the housing market.
He said: "There has been speculation that we will see a downturn in the property market, but Your Move's data clearly shows consumer expectations for the property market remain optimistic."
Meanwhile, David Stubbs of the Royal Institution of Chartered Surveyors has said there is little chance of a housing market crash.
He told BBC Radio 4's PM programme that although price growth has slowed, there is still a shortage of houses on the market and that should prevent vendors having to give discounts to shift their home.
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