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House prices 'up on a year ago'

Thursday, 7 January 2010

House prices 'up on a year ago'

UK house prices were 1.1% higher in December than a year earlier - the first annual rise since March 2008, according to the Halifax.

Prices rose by 1% in December compared with the previous month, marking the sixth consecutive monthly rise.

The Halifax, now part of Lloyds Banking Group, said the average home was now worth £169,042.

However, the group predicts that property values will be flat in 2010 owing to the economic outlook.

Fluctuations

The figures show that prices have picked up steadily in recent months, having risen by 9.4% - or £14,552 - from the trough of April 2009. This followed a decline of 23% between August 2007 and April 2009.

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Source: BBC Business News http://news.bbc.co.uk/1/hi/business/8445260.stm

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