letting agents maidenhead appletons on 30 Oct 2009 05:30 pm
House Prices Higher than 2008
The Nationwide Building Society claims that the UK house prices are higher year-on-year in October.
Property prices are two per cent up in October compared to October 2008. This is the first annual increase over the last 19 months.
However, the Nationwide also points out another trend that the pace of monthly price increases has is slowing down, and perhaps can level off in the months ahead.
The director of Appleton Estate Agents Marlow, Adil Akkus, commented that this may be due to more sellers coming back to the market.
The recent increases in the the property prices have been widely attributed to the lack of properties on the market.
Even though the US economy has officially come out of the recession this week, the UK economy firmly stays in recession. And, if this prolongs, it may lead to higher unemployment, which is likely to slow down the housing market recovery.
It is also worth pointing out that the average property price is still thirteen per cent lower than its peak during the autumn of 2007.
