Tuesday, November 10, 2009
DCLG: +1.2% MoM, -4.1%YoY
House prices rose by 1.2 per cent in September from August, the sixth increase in a row, further bolstering evidence that Britain's battered property market is over the worst. The rise pushed the average cost of a UK home to Â£199,303 â€” a level not seen since November 2008, according to figures from the Department of Communities and Local Government (DCLG). The annual rate at which prices are falling also slowed to 4.1 per cent in September from 5.6 per cent in August and a peak of 13.6 per cent in March. The DCLG survey is the latest to suggest an upturn in the housing market. A recent survey from the Royal Institution of Chartered Surveyors found that house prices rose in October despite more properties coming on to the market.