House prices rose for the 3rd month in a row in July say the Nationwide House Price Index.
The Nationwide results show the average price of a property in the UK rose by 1.3% over the month. The 3 month figures show an increase from 1% in June to 2.6% in July.
This shows an improvement in the year on year figures even though house prices are on average 6.2% lower than 12 months ago.
Martin Gahbauer, chief economist at the building society, said “For the first seven months of 2009 as a whole, prices have risen by a cumulative 1.3%, suggesting there is now a reasonable chance that prices could end the year slightly higher than where they started. Only a few months ago, such an outcome would have appeared unthinkable.”
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Tags: house prices, nationwide
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