CLG: UK house prices rise in August

Posted: 14 Oct 2009 12:21:09 GMT

Property prices in the UK rose by 0.5 per cent between July and August 2009, according to the latest figures from the Communities and Local Government (CLG) department.

Basing its figures on mortgage completions, the CLG said that the mix-adjusted average house price in the UK was £196,510, which represented a 2.6 per cent growth on what was reported during the three-month period ending in May.

The average house price paid by first-time buyers in August 2009 was 6.6 per cent down year-on-year, while those who already owned property typically spent 5.3 per cent less when moving home.

Two further findings from the CLG research were that the annual average price paid for brand new properties in August was 9.9 per cent down on the equivalent month in 2008, while average house prices paid for pre-owned residences were 5.3 per cent lower.

Meanwhile, both Nationwide Building Society and Halifax have reported inflation in house values in each of the last three months.


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