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House prices end 2009 with a rise

House prices end 2009 with a rise

Category: Mortgages

Updated: 29/01/2010
First Published: 29/01/2010

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 It is now over 6 months old so the content may be out of date.

2009 may not have been the happiest year for the housing market, but a rise in house prices in December meant it ended with a flourish.

Figures from the Land Registry show that house prices crept up by 0.1 per cent in December, bringing the average price of a property in England and Wales to £161,783.

Perhaps more importantly, the monthly gain means that the annual house price change is now at a positive level for the first time since May 2008, at 2.5 per cent.

The London property market saw a 1.5 per cent gain in average house prices in the last month of 2009, taking the value of property to £324,352. It is the seventh month in a row that the city has achieved a monthly movement above zero.

Now boasting an annual gain of 6.1 per cent, it is the third month in a row that the capital that the 12 month comparison has been in positive territory.

In total, six other regions in England and Wales experienced increase in their average property values over the last 12 months. They were: West Midlands, East Midlands, Yorkshire & The Humber, South East, East and South West.

The three regions where house prices fell over 2009 were Wales, North East and North West.

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