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6 May 2010

Assetz: House prices up 8.8% on year

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by Kay Mitchell

Assetz: House prices up 8.8% on year

The latest figures from Assetz House Price Watch has revealed that house prices are now just 7.5% lower than their peak of October 2007.

Assetz, which compiles monthly average figures supplied by the five major house price indices, said average house price figures for March are 8.8% higher than a year earlier, with the average UK home costing £198,960 compared to £182,884 a year ago.

However, the figures highlight that the rate of growth continues to slow with the 6 month rolling average showing a 6.48% annualised growth rate.

Stuart Law, Chief Executive of Assetz, comments: “The latest Assetz House Price Watch shows that we are now in the throes of a consistent housing market recovery.

“While house prices continue to rise each month, as predicted, the rate of growth is slowing to a more sustainable level. I still fully expect that we will end the year with overall 5% growth in house prices,” Mr Law concludes.

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