Year end UK house prices up on 2008
UK house prices have ended 2009 up on the year as the market begins to recover, according to the Right Move House Price Index.
Prices are up 1.7% on the end of 2009, however prices are down slightly in December from the £226,440 average price recorded in November. According to Right Move this is down to a "traditional negative winter quarter".
The average house price in the UK now stands at £221,463.
Miles Shipside, commercial director of Rightmove, said: "The most recent property to come to the market always creates the most interest and, if priced correctly, has been selling quickly. Smart sellers should do their research on what's selling around them, and take advantage of the pre-election spring window."
Predictions for 2010 included the continuation of seller shortages and price increases in "better locations". However the impending general election in 2010 is expected to have an effect on property prices.
Firstrung, a company which specialises in property for first-time buyers, said recently that new builds would provide great investment opportunities in 2010, particularly two bedroom homes.
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