FTHPI: House prices rise again

Monday, January 11th 2010

House prices in England and Wales have risen to an average of £214,283, according to Acadametrics research for the Financial Times.

The Financial Times House Price Index indicates that average house prices have risen 0.8 per cent from November - the eighth successive month that an increase has been evident.

Annually, the figures show a 4.2 per cent rise on the average price of residential property transactions.

Norma Cohen, writing for the newspaper, suggests the latest figures signal that "the recent rise in UK house prices is well entrenched".

Ms Cohen added: "A floor appears to have been laid … which is firmer than many economists had expected at the start of 2009".

Research from Savills estate agency last week suggested that house prices will rise above inflation over the next decade.

The real estate provider believes property prices will beat inflation by 40 per cent by 2019, though this figure is lower than the 71 per cent rise over the last ten years.