UK property prices rise again

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Found in: Mortgages February 13th, 2007

Average UK property prices rose once again in September, despite the recent interest rate rise.

Fresh figures from the Nationwide Building Society reveal that house prices increased by 1.3% in September, following a rise of 0.8% in August.

The annual house price inflation now stands at 8.2%, with the average UK house now costing £169,413.

Fionnuala Earley of Nationwide, said: “Just like the weather, the housing market was unseasonably warm in September as August’s interest rate hike did nothing to cool the rate of house price inflation.

“A weak patch this time last year, when prices fell by 0.2%, exaggerates the annual increase, but the more recent three-month-on-three-month series still shows a clear pick-up in price growth since July.”

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