Business Advice for all UK firms from starting a business to flotation

First 2009 rise for house prices

House prices in England and Wales have increased month-on-month for the first time since January 2008, according to figures released by the Land Registry.

The 0.1% rise in June compared with May has brought the average value of a home in the UK to just over £150,000.

"This is the first time in well over a year that the monthly change has been positive. However, as the monthly increase is only 0.1%, the movement does not signal a return to solid growth, but rather flattening prices," said a spokesman from the Land Registry.

There was further positive news in the property sector with figures released by the Bank of England revealing that the number of mortgages approved for house purchases has climbed in June to the highest figure since April last year.

The number of mortgages approved in June rose to 47,584 - up from 44,169 in May, the fifth successive month that approvals have risen.

Share |

Login or register to post comments
Printer friendly version

Post Date: July 29th, 2009