Depending on your viewpoint, house prices are either falling, stable or rising steadily as confusion continues to hover over the state of the current housing market. With media speculation rife and contradictory reports being submitted by mortgage lenders, estate agents and the government, you could be forgiven for not knowing what to believe.
Establishing the truth when it comes to current house prices can therefore only be attained by researching your immediate environment and your own circumstances. For those looking to sell your property, evidence suggests that valuations of many households have indeed plummeted in light of the economic recession.
Selling a home to recoup the original value has proven to be more difficult in recent months, however, in some locations homes have increased in value (Source: Rightmove). Therefore, the best place to begin your research concerning house prices is to assess the valuation of properties in your area in order to establish if it is the right time for you to sell.
Your immediate location will reveal a great deal of information concerning current house prices within your vicinity, enabling you to decide on what your next move will be. At this point it may also help to consult a variety of local estate agents to gain their perspective on current market trends in your area.
Building a broad picture regarding the truth behind house prices gives you the best possible perspective from which to make the right decision for your requirements. Whilst the outcome may not be what you're looking for, from a selling point of view at least, you will know where you stand as opposed to finding yourself in limbo.
From a buying perspective, similar research can be carried out. Leading housing experts suggest that current house prices support a buyers market. Therefore, conducting research within your local area will unveil the options available to you. However, whatever the truth may be concerning house prices, thorough research should always be done to ensure the right outcome for your situation.