Thursday, July 30, 2009
Three in a row from Nationwide
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

The Nationwide building society said house prices have risen by 1.3% this month, their third monthly increase in a row. Prices have increased by 4.4% since their recent low in February on a seasonally adjusted basis, 7.5% when unadjusted. These figures go beyond merely confirming that prices have stabilised and Nationwide suggests 2009 could see prices end up higher than they started it.

As during the period when prices were falling, movements are exaggerated by the thinness in the market, and it makes sense not to read too much into the rises of recent months. Even so, it suggests that in terms of both activity and prices, 2008 saw most of the housing correction. More from the Nationwide here.