Shared equity buyers see house prices drop 0.6% in June

12-Jul-2010

Individuals buying a house on a shared equity mortgage may have noticed prices fell by 0.6 per cent on average last month, following a decrease of 0.5 per cent in May.

Shared equity might enable prospective buyers to join the property ladder, but one expert argues people should not get too hung up on small movements in home values.

Selwyn Lim, director of data provider Mouseprice.com, suggests it is important to "decide to buy for reasons that make sense to an individual because of an individual's circumstances".

For those considering shared equity, this may mean joining the housing market when a deposit has been raised and provisions are in place, rather than waiting to see if prices will fall further.

The home purchase specialist advises taking fluctuations "with a pinch of salt" and says both the government and experts favour trend analysis over a quarter of a year than on a four-weekly basis.

Shared equity and shared equity mortgages have become more popular as property has increased in price. Find out more at FirstRungNow.com or seek mortgage advice.

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