Corporate foreign exchange news
'Window closing' for bargain buyers
Monday, 20 July 2009 09:07:16 GMT

The window of opportunity for bargain property buyers is closing, the latest house price index from Rightmove.co.uk claimed.According to the data, which is collected from around 90 per cent of newly marketed property, house prices recorded their fifth monthly rise in July, with prices up 0.6 per cent at £227,864.Commenting on the figures, Miles Shipside, commercial director at Rightmove, said that buyers and sellers are becoming increasingly confident that the market has already bottomed out.He added that the 20 per cent increase in the number of sellers was a fillip for the prospects of a timely recovery."More sellers looking to buy are good news for the market, as they help build longer chains, which build transaction volumes," he explained.Meanwhile, buyer activity is likely to be bolstered by the Bank of England's decision to keep interest rates at record lows for another month, sticking to the 315-year low of 0.5 per cent for the fourth consecutive month.

