Third month for house price rises
Monday 3rd August 2009
Data released from the Nationwide Building Society have shown an increase in house prices this month. This is the third moth running the Nationwide has announced an increase in average house prices which has sparked concern that first time buyers may be priced out of the market…again!
The report from the mortgage lender has shown a 1.3% increase from June to July and that the rate of increase has accelerated. These figures however should be taken with a grain of salt as large as your head as the Land Registry has reported an increase of only 0.1%. Given the disparity of data between the LR and Nationwide it is indication it is more the clientele that has changed, not the market.
Whilst month on month we are seeing increases, year on year we are still down some 6% so I wouldn’t worry about another housing market rally just yet!