UK Property Prices Enjoy Third Monthly Rise.

UK house prices have risen again. Three consecutive monthly rises means that the average cost of a home in the UK is now £155,885. Nationwide stated earlier this month that ‘prices rose for the fourth month in a row during August, increasing by 1.6 per cent, while the annual rate of decline narrowed to just 2.7 per cent.’

The month of July also saw the number of mortgage approvals rise to a 17 month high. There is still however a great deal of concern with unemployment still on the rise, and many other obstacles in the mortgage market that still need to be overcome.

There are also fears that the sudden increase in the supply of homes for sale could trigger a new bout of price falls.