3
Nov
Survey sees house prices rise again in October
House prices increased by 0.2 per cent in October compared to the
previous month, according to a survey by Hometrack.
The company, which carries out a Monthly National Housing Survey,
found that its index registered its third month of consecutive
increases in terms of property values.
Richard Donnell, director of research at Hometrack, commented: "The
last six months have seen a continued improvement in housing market
sentiment on the back of rising demand and a lack of housing for
sale."
However, Mr Donnell drew attention to the slowdown in the number of
new buyers registering with agents across the UK.
New-buyer registrations stood at 1.2 per cent in October and have
averaged just 1.1 per cent over the past three months. He cautioned
that this could result in prices being driven up on the back of
lower demand.
The Nationwide house price index produced similar data, reporting
an increase of 0.4 per cent in property prices compared to
September. The building society revealed that house prices had
jumped by two per cent compared to October 2008, the first
year-on-year rise since March last year.
