DCLG figures show house prices up

Posted 15/08/2011

Figures from the Department for Communities and Local Government have shown house prices rose during June 2011.

According to the statistics, which have been unveiled today (August 16th), the average cost of a home increased by 0.6 per cent compared to the previous month.

Prices were down two per cent on two years ago, although London is bucking that trend with a rise of 1.5 per cent.

Credit analyst Mark Boyce of Standard and Poor’s told BBC News that employment is more “robust” in the south of England, which can explain why house prices are performing better in this area.

“Our study also found that more mortgage borrowers in the north continue to be in negative equity. The sluggish housing market in northern regions over recent quarters may be partly responsible for this rise,” he said.

Earlier in the month, it was revealed by Halifax that house prices rose in the UK during July 2011.

Martin Ellis, housing economist at Halifax, pointed out it is the third month in a row there has been an increase. 

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