CHEER AS HOME PRICES UNLIKELY TO PLUMMET

House price news, information and discussion – HousePriceCrash.co.uk

Homeowners worried that the value of their property might tumble were given reason for cheer yesterday. The Halifax, the UK’s biggest ­mortgage lender, reported that prices dropped just 0.1 per cent from October to November as the property market stabilised. Spokesman Martin Ellis suggested that a shortage of housing stock was helping to support property values. He said: “Interest rates are also likely to remain very low which will support the improved mortgage affordability position for home owners.