2
Apr
House prices 'on the rise'
Evidence has emerged that house prices may be starting to rise
again.
The Nationwide house prices index for March showed that the average
figure for a home in the UK was up 0.9 per cent from February, an
increase from £147,746 to £150,946.
This has corresponded with a rise in the number of mortgages being
approved, the lender noted.
Chief economist for Nationwide Fionnuala Earley urged caution when
assessing the statistics, commenting: "While the rise in prices in
March is welcome, it is far too soon to see this as evidence that
the trough of the market has been reached."
The same consideration should also be applied to mortgages, she
noted.
However, those keen on buying homes may now be looking for further
signs of recovery in the market.
The level of optimism that property prices will rise over the next
12 months has grown among investors, the first quarter survey by
the Young Group of property portfolio managers found
recently.
