Property values rise 0.2% in February

Property costs increased by 0.2% between January and February 2013.

Summary:

• The Nationwide House Price Index revealed the average price of a home in the UK was £162,638 in February 2013
• This is an increase of 0.2% from January 2013
• It also revealed this is the same price of a typical house in February 2012

The cost of buying a property in the UK has risen by 0.2% since the end of January 2013.

According to the Nationwide House Price Index, the average cost of a house in the UK was £162,638 at the end of February 2013.

This is an increase from £162,245 from the month before, although the average value in February 2013 remained unchanged from February 2012.

Robert Gardner, Nationwide’s Chief Economist, said this demonstrates the trend of “broad stability” that has been shown over the last couple of years.

He stated: “There are reasons for cautious optimism that activity will gather momentum in the months ahead.”

This includes the rise in employment levels, which will help increase the demand for properties.

Mr Gardner went on to say any progress “is likely to be gradual”, despite there being several signs of a wider economic recovery.

In last month’s index, Nationwide revealed prices rose by 0.5% in January, although values remained unchanged from November to December 2012.

Natasha Al-Atassi

I’m a Property Investment writer for Select Property collating the latest industry news about Property Investments in Dubai, the Select Property brand and information to help investors interested in buying property abroad. I am also a freelance journalist and am often published in offline and online media, as well as being a keen wedding blogger. I hope you find my posts useful and please feel free to comment share or tweet.

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