6% House price rise defies gloom

Posted Jan 01, 2010

Figures released yesterday show prices have increased by around 6% over the last eight months. Despite market woes, the past decade was the strongest on record for prices according to Nationwide.

Ten year figures show values rose by 117% since the end of 1999 and, even with inflation taken into account, the average home increased in value by 68% compared with a 14% fall in the 1990s

Figures published by the Bank of England yesterday suggest the mortgage lending freeze is also beginning to thaw as lenders are offering more 80 and 90  per cent deals.

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