House prices rose in May
9 June 2010
The latest report released by the Nationwide Building Society has shown that there was a 0.5% increase in house price in May, when compared with April.
This indicates that the annual rate of house price inflation has fallen slightly to 9.8% from 10.5%. The average home in the UK now costs £169,162, which is £15,000 more than this time last year. The Nationwide figures reveal that the average price of a UK property is now just 9.5% below the peak seen in Autumn 2007.
Martin Gahbauer, commented: “Housing market conditions remain characterised by thin transaction volumes and a relative scarcity of properties for sale, despite a slow return of more sellers in recent months. The current supply-demand balance on the market is still consistent with relatively stable to modestly upward trending prices.”
House values have now increased in 12 of the past 13 months, as the UK housing marketing continues its steady recovery.
Source: Homemove
Disclaimer
These particulars are intended only as general guidance. The Company therefore gives notice that none of the material issued or visual depictions of any kind made on behalf of the Company can be relied upon as accurately describing any of the Specified Matters prescribed by any Order made under the Property Misdescriptions Act 1991. Nor do they constitute a contract, part of a contract or a warranty.
