House Prices Rise in 2009
The Halifax has reported that UK house prices were 1.1% higher in December 2009 than in December 2008, the first annual price rise since March 2008.Prices rose by 1% in December on the previous month, the 6th consecutive monthly rise.
The graph above shows the change in house prices over the past 2 years, with house prices reaching a low in April 2009 before rising by 9.4% to December 2009.
Price increases in 2009 were driven largely by a shortage of supply - if more people start selling, price rises would level out. The Halifax is forecasting a flat year for house prices in 2010 with the market heavily dependent on the state of the UK economy.
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