30
Jun
Homeowners benefit from rise in house prices
Homeowners have seen their property values increase after a recent
study showed house prices have risen in the first half of the
year.
Financial services company Nationwide released its house index
figures for June today (June 30th), which revealed that house
values rose by 0.1 per cent this month, resulting in a cumulative
increase of three per cent from the beginning of 2010.
Nationwide's chief economist Martin Gahbauer said: "Recent
indicators point to an increase in the supply of property coming to
the market for sale, perhaps in response to the abolition of
home information packs (Hips) in the opening days of the new coalition
government."
The report also showed that the annual rate of house price
inflation dropped from 9.8 per cent to 8.7 per cent between May and
June.
Mr Gahbauer added that despite this decline, the last few weeks had
shown signs of stability for the market.
Earlier this month, the House Price Index from the Department of
Communities and Local Government revealed that between March and
April 2010, house prices in the UK rose by 0.4 per cent.
