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House prices rise 0.5%
House prices increased by 0.5% in May, according to the latest monthly survey from Nationwide.
This rise means that the average price of a UK home is 169,162 – 15% higher than the same time last year.
The modest price rises of recent months is being driven by a relative shortage of properties for sale on the market.
"Housing market conditions remain characterised by thin transaction volumes and a relative scarcity of properties for sale, despite a slow return of more sellers in recent months," said Martin Gahbauer, chief economist at Nationwide.
Post Date: June 3rd, 2010
This rise means that the average price of a UK home is 169,162 – 15% higher than the same time last year.
The modest price rises of recent months is being driven by a relative shortage of properties for sale on the market.
"Housing market conditions remain characterised by thin transaction volumes and a relative scarcity of properties for sale, despite a slow return of more sellers in recent months," said Martin Gahbauer, chief economist at Nationwide.
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Post Date: June 3rd, 2010
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