The value of houses in Camberley have stabilised recently, this I think is down to demand locally.
I talk to many to many estate agents in Camberley, Farnborough, Yateley and other local areas and the mood is positive.
This may change with the intervention of the recent finacial policies set out by the the government, to reduce our country’s debts.
But according to the Nationwide Building society, the value of houses has decreased nationally.
Here is a snippet from their recent report.
“October saw a continuation of the modest downward trend in house prices that began at the start of the summer. The average price of a typical UK property edged down by a seasonally adjusted 0.7% month-on-month in October. The three month on three month rate of change a smoother indicator of the recent price trend fell to -1.5% in October from -1.0 % in September.
This is the largest decline over three months since April 2009, but is still well below the 5-6% rates of decline on the three month measure seen during the second half of 2008.
The annual rate of change which compares the current level of house prices against their level twelve months ago declined from +3.1% in September to +1.4% in October.
If the recent trend in house prices were to continue through November and December, the annual rate of house price inflation would drop to between 0% and -1% by the end of 2010. This would compare to a rate of +5.9% at the end of 2009.”
Obviously we will have to wait and see over the next few months before we get a truer picture locally.