Average house price up by 0.9%

3 July 2009

The latest survey from mortgage lender Nationwide has shown a 0.9% rise in average house prices in June, compared with the previous month.

Nationwide said that it was the third house price rise in four months, and the first positive three-month rate of change since December 2007.

Average house prices were still 9.3% lower than in June 2008, but this figure was improved on May`s annual fall of 11.3%.

A mortgage expert for Think Money said: "The rise in average house prices could indicate a housing market recovery in the coming months, although we`ll have to wait a few months before we can say for sure.

"In the meantime, would-be homebuyers may have to move quickly to get the best deals. Along with house prices going up, it`s possible that we`ll see mortgage rates rise - so it`s worth searching for the cheapest mortgage deals now, while they`re available."

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Think Money work with a panel of lenders to offer a range of mortgages. If you are considering taking out a mortgage, contact one of our expert mortgage advisers today.

Tags: house price, house prices, mortgage, mortgages, Nationwide

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