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House prices on the up
Written By:
Mortgage Solutions
Posted:
Updated:
17/08/2009
The department of Communities and Local Government (CLG) has revealed house prices rose by 1.6% in June, as the market continued to gain support from a shortage of homes for sale.
The rise edged up the average cost of a UK property to £191,423 – just slightly below the level seen at the beginning of the year.
The annual rate at which house prices are falling also eased for the third month in a row, dropping to 10.7%.
The CLG also revealed prices rose by 2.6% in the second quarter of the year, with the annual growth in house prices for first-time buyers increasing from an average of -14.6% in May, to -11.7% the following month.
