Insurance News Archive
Property insurance holders see house prices rise in March
Posted by Michael Brown
Property insurance holders saw house prices rise in March, increasing by 0.7 per cent since February, new figures have shown.
The Nationwide index showed that the rises in March almost cancelled out February's 0.8 per cent drop in values.
Compared to March 2009, this month is faring well, seeing a nine per cent increase on the figures from a year ago, meaning that the average house price has risen to £164,519.
The latest figures comes a day after the Land Registry released its house price figures, showing property insurance holders that a 0.3 per cent fall in house prices occurred in February, when compared to January's figures.
Speaking about the Nationwide index, Martin Gahbauer, the organisation's chief economist, said: "With greater than usual political and economic uncertainty ahead of the upcoming general election, potential homebuyers are proceeding cautiously."
The Royal Institute of Chartered Surveyors' chief economist Simon Rubinsohn added that the rise in house prices was no surprise as supply is still not meeting demand.
30 Mar 2010
