ARE UK HOUSE PRICES ON THE UP???

Are house prices on the up?Rightmove.co.uk, the property sales and rental website, has released figures showing that the average UK property asking price has jumped almost £2,600 to £216,163. This is based on data collected from 200,000 properties currently for sale. However, prices are still between 15% and 20% down overall and there is concern that estate agents are unrealistically trying to cash in on the seasonal pick-up in homebuyers. This is unlikely to happen, due to a number of factors, but one of the main reasons is that the number of people looking to sell their homes quickly is likely to increase. The threat of repossessions is growing and serious property investors are expected to be very active in the market over the next few months. Some estate agents and mortgage companies believe this will give the property market the kick-start it needs. Of course, there are plenty too who feel that it won't be nearly enough.