House prices ‘see second quarter rise’

British house prices increased by 1.1 per cent in the second quarter of 2009, new figures have revealed.

According to the Knight Frank Global House Price Index, the UK average price rose during the period after dropping by 3.7 per cent in the three months to March.

With the final quarter of 2008 seeing a 4.5 per cent decline, the figures may suggest that the market has passed the worst and is now recovering, which could be good news for those seeking to take out a mortgage.

Other house price indicators to recently show a rise in prices included the latest Halifax figures, which were out this week.

They revealed that values jumped by 0.8 per cent in August, the second successive monthly rise.

Land Registry figures for July also indicated a positive trend, with a 1.7 per cent rise in the month following an increase of 0.1 per cent in June.

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