House Prices Rose in June
The Nationwide this morning reported that house prices rose by 1.3% in July, the 3rd month in a row that prices have risen. Since the start of the year, house prices have now actually risen by 1.3%. Nationwide now expect prices to rise over 2009 as a whole.Average prices are now 6.2% lower than a year ago, up from the 9.3% decline from last month. February showed the lowest point of decline in Nationwide figures, with prices down by 17.6% annually.
Nationwide commented that prices have been 'remarkably resilient' despite the recession, but warned that the current strong run may be unsustainable with rising rising unemployment.
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