31 Dec

Nationwide finds house prices up in December

Nationwide finds house prices up in December

The latest house price index from Nationwide shows a 0.4 per cent rise during December 2010.

Described by the building society as a "modest" increase, the seasonally-adjusted price index shows the month saw the decline of the previous two months arrested.

Martin Gahbauer, Nationwide's chief economist, explained that house prices have remained broadly stable over the course of the year.

"When house prices are trending down only modestly rather than decisively ... it is not unusual to a see a mixed pattern of monthly declines and occasional increases," he said.

Mr Gahbauer added that it would be "premature" to suggest that house prices are now set to rise off the back of the December 2010 figures.

The Royal Institution of Chartered Surveyors' November UK Housing Market Survey, which was released two weeks ago, showed that the housing market remained stable during November 2010, with spokesman for the group Ian Perry describing the level of sales as "subdued". ADNFCR-1222-ID-800319257-ADNFCR

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