House prices 'rise again'

Posted: 02 Oct 2009 11:11:18 GMT

Property prices in the UK have now risen for five months in a row, according to the latest data.

Nationwide Building Society has stated that house prices increased 0.9 per cent in September and are now at the same level they were at 12 months ago.

Figures show that the average home in the UK was valued at £161,816 in September - up from £160,224 in August.

Martin Gahbauer, Nationwide's chief economist, said the company's research indicates that it is the first time since March 2008 that the year-on-year rate of change has not been negative.

"Over the first nine months of 2009, the seasonally adjusted index of house prices has risen by 4.1 per cent, though relative to the October 2007 peak it is still down by 13.5 per cent," he added.

Later this month, Halifax will publish its property price figures for September. The financial services provider's house value estimates are often a little higher than Nationwide's.


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