House prices up again

New government figures have shown that UK house prices have continued to rise.

Data from the Department for Communities and Local Government (DCLG) showed that there was a 1.7 per cent rise in prices in November, with the average value of a home up 0.6 per cent on the same month in 2008.

The three months to the end of November saw a 3.5 per cent increase in prices, compared with a 2.6 per cent jump in the previous three months.

First-time buyers seeking mortgages bore the brunt of price increases, paying 3.9 per cent more than a year earlier, whereas those moving house averaged 0.7 per cent less.

The acceleration seen in price rises in the DCLG survey is in contrast with some other studies, which have suggested that prices are still rising, but not as quickly as before.

According to the Royal Institution of Chartered Surveyors, such a deceleration was evident in December, when a positive balance of 30 per cent of surveyors reported an increase in prices rather than a decrease.

This was down on the 35 per cent recorded in December.

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