House prices register 0.6 per cent rise - Mortgages - News - Moneyfacts


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

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 It is now over 6 months old so the content may be out of date.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

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Goodbye to the Help to Buy Guarantee

On 31 December, phase two of the Help to Buy initiative will be withdrawn from the market. It’s certainly done wonders for the high loan-to-value sector, so we thought we’d take a closer look at the significance of the scheme and the effect it’s had.

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.

Bank of Mum and Dad holds the (house) key

The Bank of Mum and Dad is an important source of finance for many young adults, and it seems that they still hold the key – in more ways than one.