House prices stay stable

House prices stay stableUK house prices remained consistent in August, dropping just 0.1 per cent on the previous month, it has been revealed.

Data released by the data from Land Registry indicates the average house price in England and Wales now stands at £155,968 - an annual decline of 9.4 per cent and up from the year-on-year low of 16.3 per cent seen in February.

London saw the greatest monthly price rise with an increase of 0.8 per cent and the average property price in the capital is now £310,640.

However, for those looking to take steps to further boost the value of their home may want to consider carrying out DIY projects such as fitting new doors or tiling a bathroom.

According to the Land Registry, the latest figures for completed house sales are for June this year and show that the number of purchases fell by 17 per cent to 48,903 from 58,636 in June 2008.

In July, research carried out by Halifax indicated that carrying out simple home improvement methods, such as fuel efficiency and energy saving measures, can add as much as two and a half times their initial outlay cost to the value of a home.

Written by Barney MarshallADNFCR-2244-ID-19383219-ADNFCR

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