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UK Housing Market
The latest figures published by Nationwide, show that the majority of the UK regions saw an increase in house prices at the end of 2009.
The data published showed that the Southern regions grew stronger than the Northern regions and that London saw the strongest growth through out the year.
Martin Gahbauer, Nationwide's Chief Economist, commented: "The final quarter of 2009 saw a slowing in the quarterly rate of house price growth across the majority of UK regions, but most regions ended the year with average prices higher than at the end of 2008. For the UK as a whole, prices rose by 1.6% in the fourth quarter, leading to an increase in the annual rate of change from -3.0% in the third quarter to +3.4%."
The average price of a house in the UK is shown to be £162,116, a 4.5% increase compared to this time last year.
