In their September house price survey report, the Nationwide has revealed that the average price of a UK home was now at the same level as it was in September 2008. In a surprising turnaround house prices have been steadily rising for several months and now appear to have reached the point where they are really starting to regain lost ground.
The Nationwide said price rises had been particularly vigorous in the past few months. In the three months to September they rose by 3.8% compared to the average level in the previous three months – the biggest rise on this measure since August 2004.
The Nationwide house price index has now revealed price rises for the last 5 months in a row and although many market experts feel that the recovery is still very fragile this is extremely positive news for home owners and property investors and certainly helps to raise a number of people out of negative equity.
