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Property prices see a slight increase in July

01 August 2011

Over the last 12 months property prices, apart from one month, have either remained static or have shown a slight increase raising hope that the housing market is showing signs of stability.

A market survey carried out by the Nationwide Building Society shows that the average cost of a house is now £168,731.

Robert Gardner, chief economist at Swindon, England based Nationwide said "Sluggish demand for homes, combined with only a gradual rise in the supply of available properties, has helped to keep property prices relatively stable" Gardner goes on to say "As the economic outlook brightens, labour-market conditions strengthen and housing affordability becomes less stretched, so demand for housing should improve."

Will this news help to restore confidence in the property market?

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Property prices see a slight increase in July

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