UK house prices rise by 1.6% in August
Could property markets around the world be bottoming out?
Latest figures released by the Nationwide Building Society indicate house values went up by 1.6% in August. The biggest monthly increase since December 2006.
This means that the annual fall in prices has reduced down to 2.7% from 6.2 % in July.
I would say that this has been purely driven by a temporary lack of supply, rather than any sustained recovery. Nonetheless, it’s incredible to think that so soon after near financial collapse we could be seeing £50 million houses increasing in value by close to a million pounds a month.
We’ll just to have see whether this property recovery has real legs. I wouldn’t bank on it though!
READER COMMENTS:
No comments yet.
In order to write this post or review the author may have tested complimentary services or goods to ascertain an accurate picture of quality and standards. It is important for us to declare this so that our readership fully understand that we are where possible speaking from experience when reviewing a product or service. In spite of this, we aim to maintain high journalistic standards and provide useful objective analysis.