UK house prices in February 2005
Average house prices today are just 1% higher than 12 months ago, according to new figures from Britain’s estate agents.
But the industry’s main trade body yesterday said agents were reporting a "very strong" early February, suggesting that the property market downturn may be at an end.
In its report looking at January, the 10,000-member National Association of Estate Agents said the average price of a home was £209,561.
Prices increased by 0.1% last month, though this is the first time prices have not fallen month on month since last May.
But several months of price falls, combined with a strong January 2004, mean the annual rate of house price growth is now running at just 1.1%. Last summer it was 10%.
Estate agents across the country reported a busy January, said the association. But homebuyers remain in relatively short supply, with the number registered per agency still low compared with 2004.
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