UK property prices 'up 2.6% since January'
Monday, 25 July 2011 10:34Homeowners in the UK have seen their properties rise in value by 2.6 per cent since the start of the year, new figures indicate.
Research from Zoopla.co.uk shows that a typical house now costs £216,260 – an increase of £5,478 in the past six months.
Growth in the first half of 2011 has recouped some of the losses suffered over the second half of 2010, according to the property portal.
Average property prices fell 4.9 per cent, or £10,876, from July to December 2010, as post-recession activity dwindled and drove down prices.
This was in sharp contrast to the first half of 2010, when house prices rose 3.1 per cent, the website said.
Nicholas Leeming of Zoopla.co.uk said that while the property market is back on the right track, there is still uncertainty over the future of the economy.
He added: “It remains to be seen if the second half of this year will continue upwards as the first half of 2011 – or will follow the pattern of last year and give back some of the first half gains in the latter part of the year.”
