House Prices Continue to Rise

Despite the continuing economic gloom reported in the media, statistics are starting to look brighter for property owners wishing to sell, with another rise this November of 0.5% In house values. It would seem that the economy is faring better than expected. The labour market is holding up, and fewer people are losing their jobs than anticipated.

There are many theories behind the relatively static state of this recession and the comparatively low number of job losses, but it is thought that employers have been choosing to cut working hours and rates of pay, as opposed to making people redundant.

Mortgage lenders are finding that fewer customers are falling into arrears, as people are being much more cautious about spending. All of these factors combine to give sellers a healthy optimism and are pushing house prices up slowly but surely. Now, the average house costs £162, 764, which is around the price of a house in early 2006, when it was £162,038.