12 Jan

Property prices rise, new data shows

Property prices rise, new data shows

House prices in the UK have increased marginally, according to the latest House Price Index published by Communities and Local Government.

Data released by the organisation found that prices in November 2009 were up by 1.7 per cent compared with the previous month and displayed a 0.6 per cent rise over the same month in 2008.

Property values in Scotland saw the biggest average increase over the year, going up by 2.4 per cent. Wales experienced a 2.2 per cent boost, while prices in England increased by 0.6 per cent.

The Royal Institution of Chartered Surveyors (RICS) also published data which indicates that house prices are slowly climbing.

According to the organisation, December was the seventh consecutive month that its members reported an increase in the number of new instructions, with 20 per cent of those surveyed also experiencing a rise in new enquiries.

RICS spokesperson Jeremy Leaf commented: "New enquiries are continuing to outpace new instructions, which is helping to push house prices higher."ADNFCR-1222-ID-19552940-ADNFCR

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