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First Year-on-Year House Price Increase for More Than 19 Months
This week, the Nationwide Building Society, released its latest figures on house prices showing that for the first time in 19 months, UK house prices experienced a year-on-year rise.
At the end of October, the cost of an average house in the UK stood at £162,038 - a 0.4% increase over the previous month but also a 2% increase versus the average price in October 2008.
Tony Rice, of Bedfordshire-based specialist mortgage brokers TMP Mortgage Zone, said: "October's activity in the housing market is quite often busier than the preceeding few months as people come back from their summer holidays and move or remortgage. The figures are encouraging of course and anything that gets confidence back into the housing market is to be welcomed."
[ 05-11-2009 ]
