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House prices register 0.6 per cent rise

House prices register 0.6 per cent rise

Category: Mortgages

Updated: 27/11/2009
First Published: 30/11/2009

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 It is now over 6 months old so the content may be out of date.

House prices registered a slight rise during October, marking the fifth month in succession that the Land Registry's figures have reflected an increase in property values.

A 0.6 per cent increase was seen during the month, taking the average value of a home in the England and Wales to £159,546.

Annual comparisons still make for disappointing reading, although the rate of decline is slowing month-by-month.

House prices are down by 3.4 per cent on the same period 12 months ago, but the fall in annual change has eased for six months in a row.

The North West benefitted from the most marked monthly rise in house prices, with values increasing by 1.9 per cent during October, taking the average price of a home in the region to £119,463.

The poorest performing prices were seen in Wales, where the value of property fell by 2.3 per cent on average during the month.



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