House prices gain 9.4% on April 2009 low
by Gill Montia
In its latest survey of the UK housing market, Halifax reports that in December house prices increased for the sixth consecutive month.
The rise took the value of a typical home to £169,042, up 9.4% (£14,552) on the low of April 2009, and 1.1% higher on an annual basis.
Taking the three-month-on-three-month measure, prices rose for the second successive quarter; in the final three months of 2009, the average value of a home increased 3.5%, marking the biggest quarterly jump since 2006.
The lender comments that significant interest rate cuts have “markedly reduced the burden of servicing a mortgage” and helped to stimulate demand, albeit from a low base.
However, Halifax expects house prices to remain flat in 2010 as prospects for this year depend on how the UK economy performs, and whether there is a significant increase in the supply of properties for sale.
By way of comparison, Nationwide recently reported that the average house price rose by 0.4% in December, compared to a month earlier, to £162,103.
According to the building society, the increase took the annual rate of gain to 5.9%.
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Tags: annual, average, December, Halifax, house prices, housing market, rise, UK
As a professional London propertyy search agent with HomeSearchLondon.com we have seen strong prices in the prime areas of London in the second half of 2009 which with the lack of stock and strong euro look to continue in 2010.
Now looks like a good time to buy, once things pick up we think prices will start to rise again, as interest rates look like staying low for a while yet, but search and bargain hard you can still pick up some good deals if you are willing to do the legwork to find the…or of course use a professional search agent..lol
Comment by John Aitken — January 7, 2010 @ 11:18 am