Natiowide House Prices

House prices rose by 0.9% in September, the fifth consecutive monthly increase
High supply of rental property raises questions about durability of price recovery

Martin Gahbauer, Nationwide's Chief Economist, said:
"The recent upward momentum in house prices has continued into September, with the price of a typical house increasing by 0.9% on a seasonally adjusted basis. The 3 month on 3 month rate of change - generally a smoother indicator of the near term trend - rose from 3.3% in August to 3.8% in September, the highest level since August 2004. At £161,816, the average price of a typical UK property was essentially unchanged from a year earlier, representing the first time since March 2008 that the year-on-year rate of change has not been negative. Over the first nine months of 2009, the seasonally adjusted index of house prices has risen by 4.1%, though relative to the October 2007 peak it is still down by 13.5%."

My Comment:
There is likely to be a cooling off in property sales as we approach Christmas. But I am expecting another strong surge in April, the traditional time for house hunting. If you are thinking of selling, aim for a new year. Give the property a good sort out before marketing - and get rid of clutter. Remember 'curb appeal' is critical. Clean the front of the house, paint the front door, clean up the garden and hide the rubbish bins - and don't forget to call me to organise the new mortgage!

Give me a call - 0845 170 20 20. mob 07855 799 807 or email.

http://www.usefulmortgages.co.uk/