Housing prices rose last month: Experts warn market remains 'fragile'
Saturday 03 July 1993
But housing experts are keen to stress that this is not the beginning of a house price explosion.
Brian Davis, Nationwide's operations director, said: 'A recovery in the housing market does appear to be under way, but it is still fragile with turnover still only slightly above last year's depressed levels.'
House prices, according to Nationwide, are 3.5 per cent below those of a year ago. But last month's rise was the fourth consecutive month in which prices have risen, with a 3.5 per cent increase in total since May.
The average house in the United Kingdom is now worth pounds 53,710 - pounds 844 more than in May.
The Halifax Building Society house price index, which recorded a fall of 1.2 per cent in May, is due out next week. It is not likely to show such a dramatic price rise for June. But Halifax economist, Gary Marsh, said demand was picking up, with June bringing out more buyers.
Confidence in the state of the housing market rose last month according to a Gallup survey.
In June, for the first time since the survey began, homeowners began to believe that they would find no difficulty in selling their homes.
- 1 Stephen Fry explains what he would say if he was 'confronted by God'
- 2 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Ball pool for adults opens in London
- 5 Rashida Jones speaks out against male-centric porn saying 'women should have sex and feel good about it'
Stephen Fry explains what he would say if he was 'confronted by God'
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
Hard line on immigration could cost Tories the election
£15000 - £30000 per annum: Recruitment Genius: Now our rapidly expanding and A...
£15000 - £20000 per annum: Recruitment Genius: Are you passionate about great ...
£20000 - £30000 per annum: Recruitment Genius: This fast growing reinforcing s...
£18000 - £35000 per annum: Recruitment Genius: This fast growing reinforcing s...