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House prices up £15,000 in last 12 months
Data released by Nationwide this week confirmed that over the past 12 months the average house price in the UK had risen by £15,000.
According to the Nationwide House Price Index, property prices rose 0.5% in May, producing an annual increase of nearly 10% over the year.
Commenting on the figures, Tony Rice of Bedfordshire-based specialist mortgage and insurance brokers, TMP Mortgage Zone, said: "With a 1.1% month-on-month rise in April and 1% in March, the May figures are a little bit down. This probably reflects the fact that everyone in the housing market paused whilst the general election was taking place. It will be interesting to see - especially in the light of the abolition of HIPS - whether we see a higher rise in property prices in June."
[ 03-06-2010 ]
