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.

 



Related Posts


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants