House Prices Rise 10,000 Pounds

Despite property advisors previous predictions that 2009 would end with further property price falls, the Halifax has reported an annual price increase of over £10,000.

In fact, for the last 6 months the property market has witnessed an increase in property values of up to 9.4%, bringing UK property prices up to an average of £169,042.

And these figures are vastly different from what economists believed would occur at the end of 2008…


During their predictions economists believed growing unemployment and tighter lending criteria would force property prices to dramatically fall; however the opposite appears to have occurred…

Supported by the Bank of England’s decision to cut the base rate down to 0.5% in March, interest rates have followed suite, reducing the burden of servicing a mortgage for many households across the UK.

As a result, these falling rates have prompted increased interest in the property market which has further stimulated demand for property.

As it stands though, economists feel that depending on how the economy evolves and whether properties for sale grow, property prices will continue to flatten during 2010.

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Peter Franklin, Property Mentor Delegate

I used to believe stocks and shares were the only way forward, yet after 15 years of property investing, neither of these can compare with the sheer velocity or impact that property investment can have on your bank account. Only with property can you truly experience the power of being in control of immediate cash flow AND capital appreciation. Stocks and shares simply cannot compete. Read more