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House prices continue to rise

Tue 10 Nov 2009

House prices in the UK rose for the sixth consecutive month in September 2009, the government has confirmed.

According to new figures from the Department of Communities and Local Government (DCLG), average property values in September went up to £199,303.

This is 1.2 per cent higher than the amount recorded a month earlier.

However, property values across the UK remained lower than they were in the previous year, with average values down 4.1 per cent on September 2008.

This compares with a fall of 5.6 per cent during the 12 months to August 2009, which indicates that the rate of decline is moderating.

A 6.7 per cent annual reduction in average property values was recorded in Wales, while prices in England fell by four per cent.

The DCLG's figures are in line with recent reports from Nationwide and Halifax, which both indicated that house prices in the UK have started to head upwards in recent months.

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