It is the fifth consecutive monthly increase, and house prices have now risen 8.5% since April - up from a decline of 23% during the previous 20 months. Prices in November 2009 are 1.8% higher than in November last year, where the average home in the UK cost £164,646 to purchase.
The price rise has been accredited to a higher demand for housing and a lower amount of properties for sale. The future prospects of the market will now depend on the evolution of the UK economy and how much the supply of housing for sale will increase. The overall view from Halifax, however, is that house prices will remain flat during 2010.
"It's good to see a rebound in the housing market of any kind, but the prediction that house prices will level off during 2010 is a sobering one," says Laurence Smith of Decision Homebuyers. "The extra money generated through the rise can be helpful to somebody who is looking to sell a house quickly through us at Decision Homebuyers, but the more likely scenario is that first time home buyers will continue to wait and see how the housing market fares over the first quarter of 2010 before making any major purchasing decisions."
To find out more about Decision Homebuyers and their services please call 08456 341 456 or visit: http://www.decisionhomebuyers.co.uk/
Established in 2006 and specialising in fast property purchase, Decision Homebuyers are experts in their field. Decision Homebuyers can buy your house fast and guarantee to make cash offers on all types of residential and commercial property, no matter what the condition.
