Early new year cheer as prices rise

Jan. 16, 2006
Property website Rightmove has said that the average homeowner was more than £2000 better off after the first week of 2006 than on New Year’s Day. Rightmove reported that property prices rose by 0.1 in January to £196,319 but this concealed four weeks in which prices had been little changed followed by a 0.9% rise in the first week of January. Rightmove also said that asking prices rose to 3.6% in the year to January compared with 3.4% in the year to December. Rightmove’s commercial director Miles Shipside said: “While it’s still a buyer’s market, prospective purchasers now need to think about how long it will remain in their favour if these increases continue.” The ODPM’s house price index for November 2005 showed annual house price inflation up to 2.5% from 1.8% in October 2005. According to the ODPM the average house price was £186,431. Times

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