Wednesday, 26 August 2009

BBC NEWS | Business | House prices 'continue to rise'

UK house prices rose again in August, increasing by 1.6% from July, the Nationwide has said.

The average price of a home is now £160,224, up from £158,871 in July, and following four monthly rises in a row.

While prices are still lower than last year, the annual rate of decline in property values slowed sharply to 2.7%, compared with July's 6.2% fall.

The Nationwide said a key factor in lifting prices was "the exceptionally low level of interest rates".

Rates have been kept on hold at 0.5% by the Bank of England since March.

BBC NEWS | Business | House prices 'continue to rise'
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