House values continue to rise

House values continue to riseThe property market continues to strengthen, new figures reveal.

Over the course of September house values rose by some 0.9 per cent, ending the month at an average of £161,816, Nationwide reveals.

Such a figure represents an increase from the £160,336 noted in August and is the fifth successive monthly increase in property values.

Furthermore, current house values are approximately the same as seen 12 months ago, the first time since March 2008 that year-on-year property differences have not registered a negative figure.

Martin Gahbauer, chief economist for Nationwide, points out that the latest property price rise "is very much consistent with improvements in a broad range of economic and financial indicators over the last few months, all of which suggest that the most intense phase of the recession and financial crisis has probably passed".

However, those looking to take steps to further boost the price of their home may want to consider carrying out DIY.

Renovating kitchens and bathrooms may be particularly advisable as Andrew Leech, director of the National Home Improvement Council, claimed doing so can significantly increase a home's overall value.

Posted by Thomas MorrisADNFCR-2244-ID-19390487-ADNFCR

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