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House prices continue to rise
Mon 01 Feb 2010
House prices in the UK rose for the eighth month in a row during December 2009, according to new data.
Figures from the Land Registry showed that property values in England and Wales rose by 0.1 per cent during this period, taking the average price of a home to £161,783.
The rate of growth was found to be particularly strong in London, where an increase of 6.1 per cent was recorded.
Statistics also revealed that house prices went up on a year-by-year basis for the first time since May 2008 during December last year.
Property values in England and Wales were 2.5 per cent up on the amount recorded 12 months earlier.
Despite evidence of improving conditions in the housing market, charity group Shelter believes the high cost of housing is having a significant social impact.
A study from the organisation found that more than a million adults cannot afford to live near to their elderly parents who need looking after.
The report also showed that many grandparents are missing out on time with their grandchildren as a result.