Property prices 'to fall further'
Homeowners wondering whether to move or improve have been warned to expect further drops in the value of their property.
The suggestion from pricedout.org.uk spokesperson Katy John comes following the news a number of mortgage lenders have begun to increase their rates.
Once such company is Nationwide - which has pushed up its fixed-rate two-year deal to 3.98 per cent for buyers with a 40 per cent deposit.
Ms John predicted property prices would fall in the coming months, adding anyone who is planning on moving should take this into consideration.
"Our advice would be to continue to save and to expect house prices to fall further over the next year," she added.
Some may decide to invest in a conservatory or loft conversion instead of moving after a recent Halifax study showed adding space can increase the value of a home.
It found people believed these two improvements were in the top three perceived ways to add to a properties price tag.
Housing loan activity 'still low'
12 June 2009
Homeowners working out whether to move or improve may be swung by recent figures from the Council of Mortgage Lenders (CML).The data shows the number of home loan approvals during April 2009 was less than half the average from the...
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