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14 March 2011

Second month of property price rises!

Property prices have risen again for the second month in a row according to Nationwide. The increase of 0.3% may not be much, but it is the second gain since May last year and could show the start of a new trend.

The average price of a house in Britain now is £161,183, which could show the start of a slow steady increase across the market over the next year.

The Bank of England also confirmed net mortgage lending has risen to £1.8 billion it’s highest level for a year, together with a 7% rise in the number of mortgages approved for home purchases, a significant improvement on the previous month, whilst still lower than in November, a steady, if not slow start to the market could be on the cards.

Nationwide have said that there is some sign of the number of properties coming onto the market slowing down, which can help offer some support to the house prices.

So even though the improvements seem slight, any improvement at all is a step in the right direction to a healthier property market for all.

 


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