16
Feb
House prices 'increased in December'
Average house prices around the UK increased by 0.8 per cent in
December, compared with the previous month, according to new
data.
Figures published by Communities and Local Government (CLG)
revealed that property values now stand 2.9 per cent higher than
they did in the same month one year earlier.
This puts the average house price in the UK at £200,307, the
organisation revealed.
Simon Rubinsohn, chief economist at the Royal Institution of
Chartered Surveyors (RICS), welcomed the research and stated that
it adds "further evidence of the recovery in the residential
market".
He added that RICS expects the improved availability of finance to
help push prices higher over the next few months.
However, Mr Rubinsohn noted that the second half of 2010 could
present more challenges to the industry, with the possibility of
further fiscal restrictions due to a general election and the
increase in the higher tax bracket - factors that could potentially
contribute to slow the market.