Ducalian: Main reasons for house price rise
The latest comments from Ducalian could interest those who have recently invested in a bespoke conservatory or other home improvement to increase the value of their property.
According to the investment firm, house prices have risen lately due to a combination of a lack homes for sale and the fear of missing out on a bargain.
Head of consulting Timothy Lambert suggested that people are often willing to pay the asking price for a property when really they should be aiming to fork out a little less.
"Prices are rising because of a continued lack of stock on the market and first-time buyers believing that if they don't buy now, they will miss the bottom of the market," he said.
"This is not the case but is portrayed this way in the media."
Mr Lambert added that prices may continue to rise in the short term, but that this may be seasonal and part of a "honeymoon period of new government and small economic growth".
The comments follow figures from Nationwide, which show that house prices rose by 0.5 per cent month-on-month during May.
Posted by David Waxman
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