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    Nationwide 'points to resiliency of property market'


    Property Prices Strengthen - lets-do-diy.comProperty prices continue to strengthen, Nationwide reveals.

    Figures released by the building society show that house values rose some 1.3 per cent over the course of July, an increase from the one per cent growth recorded in the previous month.

    With the typical home now worth £158,871, the financial services provider points out that property prices have increased for the third successive month.

    However, they remain down by 6.2 per cent from this time last year, although it is an improvement from the 9.3 per cent annual decline seen in June.

    Pointing out house values have been "remarkably resilient", Nationwide chief economist Martin Gahbauer claims that even if property prices were to remain unchanged for the remainder of 2009, "the year-on-year rate would continue to improve since prices were falling very sharply in the second half of last year".

    One means people may find they are able to boost the value of their property by carrying out DIY projects such as renovating kitchens or laying new flooring.

    Homeowners could also find improving a bathroom can be an effective way of achieving this as Georgina Spencer, of Roca UK, recently told the Independent that such a room is of one the home's "key value-adding areas".

    N.B. The information contained in this story is provided by the supplier and does not necessarily reflect the views and opinions of lets-do-diy.com.


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