Nationwide reveals quarterly house price improvement

Nationwide reveals quarterly house price improvementProperty values rose significantly over the course of 2009's third quarter, it has been revealed.

During the three-month period, the average UK home rose some 3.7 per cent in value according to figures from Nationwide.

With property now costing an average of £160,159, values are down three per cent on a year-on-year basis, although this is an improvement from the 11.7 per cent annual decline seen in the second quarter of 2009.

Particularly dramatic property price rises were noted in Greater London and Scotland, with values increasing 3.8 and 3.4 per cent over the quarter respectively.

"Whilst the annual rates of change are still negative across all UK regions, most regions saw a substantial improvement this quarter. Indeed all regions saw an increase in prices between the second quarter and third quarter," Nationwide chief economist Martin Gahbauer claims.

Regardless of where they live, those homeowners looking to further boost the value of their property and attract would-be purchases may wish to consider carrying out DIY.

One such home improvement people might want to tackle is converting a basement as Ottokar Rosenberger, sales and marketing director for, stated such a project can "greatly improve" a property's market value.

Posted by Thomas MorrisADNFCR-2244-ID-19392714-ADNFCR

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