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House Prices Rise in May - Nationwide
Figures released today by the Nationwide Building Society showed that house prices rose by 1.2% in May as buyers returned to the market.
It is the second time in three months that house prices have risen and the average house price is now at £154,016 meaning that over the past 12 months the annual rate at which house prices are falling has slowed sharply to 11.3% from 15%.
Tony Rice, of Bedfordshire-based specialist mortgage brokers TMP Mortgage Zone, said: "It is too early to suggest that house prices are back on an upward curve. Those of us who were in business during the last housing market fall remember that even then there were some months were house prices rose. However, these latest figures could mean that any further price declines in 2009 occur at a less rapid pace than last year."
[ 23-05-2009 ]
