House prices 'still rising'
House prices increased by 0.6 per cent in October when compared to the previous month's figures, new research has revealed.
According to the Land Registry, this was the fifth consecutive month when movement has been above the threshold of zero per cent.
And while over the past 12 months, property prices in England and Wales have fallen overall, signs that the housing market is recovering may make it more difficult for first-time buyers to purchase a property, with the average house price now standing at £159,546.
With this in mind, people may wish to look for flats to rent in Hammersmith or another part of London, rather than buying a property, as this is likely to be a cheaper option, particularly as house prices are typically higher on average in the capital than across the rest of the UK.
Taking on a mortgage could also lead to added stress for consumers, with CreditExpert recently revealing that many people are now suffering from stress-related conditions brought on by monetary worries.
Written by Andy Britten
Published 27th November, 2009
© 2009 Estates IT Limited
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