Monday, 17 January 2011

Rightmove Report 0.3% Increase in House Prices for January | Money Avenue Finance News

Rightmove Report 0.3% Increase in House Prices for January | Money Avenue Finance News

Good news for the UK housing market was reported this morning by the property website Rightmove. It’s monthly house price index showed a month on month increase of asking prices since mid December of 0.3%, with an increase since this time last year of 0.4%.

Although only a minor increase, this news represents a possible change in direction for the market which has seen a steady decline following the end of the post-bust housing bubble. November and December of last year saw drops of 3.0 and 3.2% respectively. The increases are thought to be reflective of a significant drop in the number of new properties coming on the market. Some observers are suggesting it is too early to tell if the market will begin to bounce back, however, suggesting that the lack of access to credit will continue to constrict demand.

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