House prices rise for sixth consecutive month

Wednesday 30th December 2009

House prices across England and Wales increased by 0.9 per cent in November

House prices across England and Wales increased by 0.9 per cent in November marking their sixth consecutive rise.

Figures from the Land Registry indicated that the increase in house prices was spearheaded by London property's yearly 3.5 per cent rise.

The data also showed that there were 55,520 property sales per month from June to September, 10.6 per cent more than the 50,187 from the same months the previous year.

According to Reuters, low interest rates are responsible for the recovery.

Britain's housing market collapsed in 2008, following banks' unwillingness to lend to properties losing up to a fifth of their value.

The average house price now stands at £161,554. ADNFCR-1783-ID-19534119-ADNFCR

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