House price stability recorded - buy to let mortgages

01 June 2009

The Royal Institution of Chartered Surveyors (Rics) has noted that Nationwide Building Society's recent house price figures are consistent with its sales-to-stock ratio findings.

It can apparently be concluded from this that the value of housing in the UK - which Nationwide said rose by 1.2 per cent in May - is stabilising.

Landlords with buy to let mortgages who are considering adding to their portfolios will enter a market that has an average house price of £154,016, according to the building society.

However, Rics - which suggested that its sales-to-stock ratio has moved in an upwards direction consecutively for four months now - is still cautious about the state of the industry and does not think the sector is in full recovery mode.

Although "historically a good lead indicator of turning points in house price inflation", its findings have not been taken as a sign the sector will return to a similar level to previous years.

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