Increase in Property Prices, says london mortgage broker, london mortgage advice. Wednesday, 3rd June 2009

The annual rate of house price falls eased from 15% in April to 11.3%, with a typical home now costing £154,016.
House prices fell by 0.5% compared with the previous three-month period, the lowest quarterly drop since January last year.
During the downturn of the early 1990s, there were many months during which prices rose, only to fall back down again in subsequent periods.
The combination of rapidly rising unemployment and tight access to credit implies that the last of the price declines has probably not been seen yet.
Less properties are coming onto the market as many sellers choose to rent their properties to tenants, rather than try to sell them in a depressed market.
It has helped stabilise the ratio of sales to the unsold stock of properties on estate agents' books.
More reasons for the price rises could include potential sellers holding back, fearing that they would not be able to get the price they wanted in the current economic conditions, and fewer homes being built.
Some sellers might not be able to hold off for long, particularly if they have lost their job and their income has fallen.

Reports of increased interest from new buyers might also tempt some potential sellers back into the market.
Volatility is typical of a housing market dragging along the bottom and mirrors the testing economic conditions
What happens with UK rents could affect house prices.If the supply of homes onto the market does increase, the recent moderation in the pace of house price falls may not be sustained.
Now, however, it is unclear how the balance between supply and demand will ultimately work through in the coming months.
Estate agents and others have given the latest figures a guarded welcome.
Volatility is typical of a housing market dragging along the bottom and mirrors the testing economic conditions.
Some estate agents have reported an increase in activity among first-time buyers, but levels of lending still remain low and people, especially first-time buyers, still need a large deposit.
First time buyers should not be unduly worried at this point, as there is a good chance prices will fall again slightly in the quieter summer months. However, anyone seriously considering getting onto the property ladder needs to commit in the next six to nine months or they could well miss the bottom.