House Prices On The Increase

More news about the UK property market from Dibben and Dibben - as house prices rose by around 0.8% in August 2009 compared with July2009 - this is the second monthly rise in a row, reports the Halifax. Property values were 10.1% lower in the three months to August compared with the same period a year ago, the survey found. On average, a UK home was now valued at £160,973, said the Halifax, a lack of houses on the market and greater demand for homes has pushed up prices in recent times.

Prices in the three months to August compared with the previous three months were 1.7% higher, the biggest rise in this measure since July 2007.

The latest rise pushed the price of the average UK home to a few pounds higher than it was at the end of 2008, but still £13,268 lower than in August 2008. A lack of new homes coming on to the market was a significant factor in the latest round of rising prices, and so prices could stabilise again if potential sellers surged into the market.

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