31
Dec
House prices 'up 5.9% for 2009'
UK property prices have risen by 5.9 per cent over 2009, it has
been revealed.
Figures released by Nationwide show that prices rose by 0.4 per
cent in December alone, continuing the recent trend of small
monthly increases.
Commenting on the findings, the company's chief economist Martin
Gahbauer said: "Few could have foreseen this development at the
start of the year, when the near term price trend was still
pointing to a repeat of the double digit annual decline experienced
in 2008."
He noted that the rise in house prices over the last year has
surprised most commentators.
The stabilisation of the banking system and emerging signs of
economic recovery are just some of the signs that have contributed
to the recent boost in consumer confidence, Mr Gahbauer
added.
Speaking recently, technical manager at mortgageforce Katie Tucker
said that home loans are likely to become more affordable over the
coming year.
