Recent figures indicate that the average price of a house has risen by three percent, during the first quarter of 2010.
According to mortgage lender Halifax, an average UK home costs £170,111. It is also believed that the month of June was a period of broad stability for the real estate market. There was a 0.1% seasonal rise in house prices in UK, during the month of June.
The Royal Institution of Chartered Surveyors said that the price increase is an indication that the supply is going to outstrip the demand in the UK property market.
Reacting to these figures, Chief economist Simon Rubinsohn said, “It is no bad thing the price picture appears to be stabilising. The more important issue for the market is whether this is accompanied by a pick-up in transaction activity.”
Mr. Rubinsohn feels that it is good news for the consumers who have more choice while buying properties and for the real estate market as well.
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