House prices stabilising says Nationwide

1st November, 2005

Following recent reports that house prices are dropping, new figures show that the housing market seems to be picking up.

Today's figures from Nationwide claim that house prices rose by 1.3 per cent in October, bringing this year's annual house price growth to 3.3 per cent.

Nationwide attributes the increase mainly to August's interest rate cut, with the cheaper rates encouraging borrowers to purchase property.

Commenting on the figures Fionnuala Earley, Nationwide's group economist, said that though the figures seemed to suggest house prices were on the up, this might not be the case.

'The data this month suggest a stabilisation in the market rather than a turning point into a period of accelerating house prices.'

If you are thinking about investing in a new home, it is important that you take out reputable home insurance to protect the building and its contents.

In the event of bad weather, theft or fire, your home and belongings will be protected under your home insurance.

 

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