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House prices rise for second time in three months

Nationwide attributed the improvement to the low supply of new properties coming onto the market but also said that rising unemployment and restricted lending meant prices were likely to resume their downward path.

Commenting on the figures Martin Gahbauer, Nationwide’s Chief Economist, said:

“The price of a typical house rose by 1.2% in May, providing further evidence of some improvement in housing market conditions over the last few months. At £154,016, the average house price is still 11.3% lower than a year ago, although this marks a significant improvement from the annual decline of 15.0% recorded in April. The 3 month on 3 month rate of change – a smoother indicator of short-term price trends – rose from -3.0% in April to -0.5% in May and now stands at its highest level since January 2008”

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0 thoughts on “House prices rise for second time in three months

  1. Andrew Vos says:

    It is correct that 1% of something is better than 100% of nothing….Lies lies and statistics. If these figures are based on actual sales then it is correc t prices have risen since Jan 2008 however thes eprices are still way below figures pre-crash. if based upon marketing prices then can be attributed to Vendors still not having allowed the “penny to drop” and who still have an over inflated view on the value of their homes. Talk about sitting on the fence..the 1st part of the Article states Nationwide feel prices likely to continue down, which is the general view from the “trenches” however they then go on to say prices have risen..sounds similar to an MP trying to work out their allowances..its all very confusing for them