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This week two different bodies released two different sets of house price data – but which one is accurate? has your house improved in value over the last few months or are we still on a housing market slide?

According to the Land Registry, the average house price fell by 0.3% in April, compared to a 0.4% drop in March, with the annual rate of decline remaining at 16.2%. It says the average house price now stands at £152,898.

But then according to Hometrack, house prices remained unchanged in May, making it the first time in 20 months that a monthly fall in prices has not been recorded.

So which one is true? The problem is the surveys measure different things at different times, so come out with different results. This isn't a bad thing, but it makes it confusing for you. People want to know how the housing market is faring and when it a good time to move, to remortgage or to even buy another property.

David Whittaker, managing director of Mortgages for Business says: "At this point of the property cycle, there will always be conflicting data, month by month, and source by source. The market will continue to show what appear to be contradictory messages in any given quarter as different sampling measurements can produce different outcomes. The market will continue to bump along in this fashion for a while yet."

So essentially, no one quite knows how house prices are faring. We can all agree that they are not as good as they were a year ago, and we can all agree that we are not out of the woods yet. But when will it be the right time for you to look at moving onwards and upwards on the property ladder?

There is no one answer, unfortunately. Only by talking to a mortgage adviser will you know if the time is right for you. They will assess your situation now, and what your situation could look like in one or five years. Then, after carefully searching the mortgage market, will they be able to tell you if the time is right.

SOURCE: Hometrack, Land Registry, MFB, 01/06/09

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