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Property prices rise again

Property prices rise again

Category: Economy

Updated: 11/09/2009
First Published: 11/09/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The worst of the housing market problems are thought to be behind us after it was revealed the average price of all residential property transactions completed in England and Wales increased for the fourth month in a row in August.

It means the price of an average home now stands at £202,181, almost £2.5K higher than was seen in April at the bottom of the decline, said Acadametrics.

However, as an example of how far prices have fallen, they are still nearly £19K down on the same time a year ago and almost £30K down on their peak

"Whilst some commentators believe that prices have further to fall, the increase in prices over the last four months tentatively suggests that the market has bottomed out and that we are slowly climbing out of the trough," said Dr Peter Williams, chairman of Acadametrics.

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