House prices enjoy unexpected December lift to end 2010 ‘flat’

Posted on 25 January, 2011 by MOVEHUT

According to a leading index, House prices unpredictably rose in December  last year for the first time in seven months, leaving them almost unaffected round the year as a whole and dampening fears for a remarkable crash.

Mortgage lender Nationwide reported  that the average price of the property rose 0.4 % month after month to £162,763, ,reversing the 0.3 %  drop witnessed in November.

The upswing did not raise the annual rate of change over the 0.4 % increase reported for the last month. Rates augmented on average of just £660 over the last 1 year.

Nationwide said, “Implying they finished the year “basically flat”, after the profits seen in the first half were cleaned out in the last 6 months as delivery increasingly outshined demand”.

The lender thought the eradication of Home Information Packs (HIPs) subsequently with the election could have activated the property flood on to the market, as the elimination of the extra price stopped putting off tentative sellers.

Nationwide also cautioned that the newest surprise monthly rise, while welcome, did not mark a stop to the  underlying downwards trend of the market.

 



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