CLG: House prices up 3.1%

Posted: 11 Nov 2009 11:06:54 GMT

Property prices in the UK rose 3.1 per cent in the quarter ending September 2009, according to research from the Communities and Local Government (CLG) department.

The study also shows that the average house price grew by just 0.3 per cent during the previous quarter, which indicates that the inflation rate for property values is on the increase.

Basing its data on mortgage completions in September, the CLG estimates that the typical home in the UK was worth £199,303 - this figure is 1.2 per cent up month-on-month but 4.1 per cent down year-on-year.

Other property price surveys published this month also showed that the value of bricks and mortar is on the rise.

Both Nationwide Building Society and Halifax put the average UK property price above £160,000 in October.

According to the latter's House Price Index, the typical home was worth £165,528 last month.


© Houseladder Ltd