U.K. house prices rose for the first time in two years in August as a dearth of homes for sale pushed up prices in London and the southeast, Hometrack Ltd. said.
The average cost of a home in England and Wales rose 0.1 percent from July to 155,800 pounds ($253,000), the London-based property research company said in an e-mailed statement today. The increase, the first since July 2007, left house prices 6.7 percent lower than a year earlier, the smallest annual decline in a year.(…)
“After seven consecutive months of rising demand, agents and surveyors now believe that prices can be pushed upwards without any detrimental impact on sales volumes,” said Richard Donnell, director of research at Hometrack. (…)
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