UK House prices in September rose by 0.6%

Private Property South Africa
Scott Picken

9-1-country-side-house

House prices in September rose by 0.6%

The average price of all residential property transactions completed in England & Wales in September 2009 was 0.6% higher than in August. This is the fifth month in succession in which we have seen positive, though modest, growth in house prices.

Prices are now 5.6% lower than a year ago

On an annual basis, the average price of all residential property transactions in England & Wales in September is 5.6% lower than a year ago. The trough in the house price decline, on an annual basis, was reached in April 2009 at minus 13.4%.

Housing transactions slow down

Final figures have yet to emerge for sales in August 2009 but the early indications are that the total number of transactions will be lower than the 59,600 recorded in July 2009.

Although, for seasonal reasons, August figures have been lower than July in five out of the last nine years, this is the first fall in monthly sales recorded this year and it could suggest continued vulnerability.

Dr Peter Williams Chairman of Acadametrics said

“The average house price has continued to rise and, at £205,338, is back to where it was in August 2006.

“The monthly price rise of 0.6% contrasts markedly with the 1.8% price drop 12 months earlier in October 2008; the data clearly support the view that the sharpest falls are now behind us and that the market has made a modest recovery, even if it is too early to talk of a sustained upturn.”

Click below for the full report - http://www.ipsinvest.com/News.aspx?id=180

Looking to sell your home?
Advertise your property to millions of interested buyers by listing with Private Property now!
Find out more

Share:

Found this content useful?

Get the best of Private Property's latest news and advice delivered straight to your inbox each week

Related Articles

CEO Update | Aug 09 | Knowledge is the only way to manage the Uncertainty!
Watch the video on the latest Market Update - Click here 2009 continues to be a unbelievable year. Only yesterday Mark Mobius, top banker in the USA said the market could loose 30% on the highs of the last 3 months of the stock ...
UK property is up 0.1%
JULY 2009 FTHPI NEWS RELEASE 9:30 FRIDAY 7TH AUGUST 2009 England and Wales house price trends from Acadametrics • House prices in July rose by 0.1% The average price of all property transactions completed in England & Wales in ...
Survey suggests Aus property upswing looms
Australian Property Investor Magazine Posted on Tuesday, July 07 2009 at 9:00 AM Property professionals and investors believe Australia is approaching the next upswing in its property cycle, according to a survey conducted by ...
;