House prices rose by 1.6% during September, the third successive monthly increase, according to Halifax.
The mortgage lender says typical values are still down by 7.4% compared to this time last year, though they are up 2.8% over the previous three months. The average home now costs £163,533.
Halifax’s figures contrast with the recent Land Registry index which showed a 0.1% drop in August. The official body said house prices are now flat.
Mortgage lender Nationwide reported a 0.9% rise in typical property values during September, the fifth successive rise.
The Land Registry data lags behind both lenders, yet is seen by a number of people as more representative as it takes into consideration all property sales.
Nationwide and Halifax just measure their latest lending data.
Do you think property prices will increase by much this year and if not when do you think they’ll start moving again?
thanks for reading
Nick
Figures released by Nationwide today show that UK property prices have risen for the 5th consecutive month. This means prices have now recovered to the same level as they were in September 2008.
As usual everyone (or at least most people) are still predicting doom and gloom but it is difficult to argue against the fact that the worst times are over and property is back on the up. Properties with a real discount from RICS are being snapped up at an incredible rate when they come to market, and normal properties are also moving quickly when they come on for sale. Hold on to your hats we could be on the verge of some incredible price lifts over the comking 12 months!