8
Dec
New house prices figures indicate "more buoyant" 2010
The Royal Institution of Chartered Surveyors (Rics) has reacted
positively to the fifth successive rise in house prices since the
summer.
According to Halifax's latest house price index, property values
rose by 1.4 per cent in November to reach an average of
£167,664.
Commenting on the figures, chief economist at Rics Simon Rubinsohn
said that the index suggests "a more buoyant picture" for the UK
property market going into 2010.
He noted that November's price increase on the Halifax index
follows gains of 1.1 per cent and 1.5 per cent in the previous two
months.
"On a straight year on year comparison, house prices on this index
are now higher than they were a year ago, although still 16 per
cent down from the high water mark," Mr Rubinsohn commented.
Martin Ellis, housing economist at Halifax, said that estate agents
have seen prices rise for the last few months as a result of higher
demand and a relatively low level of available properties.
