Rise in UK property prices could be good for sellers

Now could be a good time to sell up for those people looking to leave the UK and invest in overseas property, the latest figures suggest.

Nationwide has released data that shows that house prices in the UK rose by 0.8 per cent during July, as the summer saw house prices join temperatures on the rise.

This summer is also a considerably better time to sell than the same summertime period of 2005, when house prices were growing at almost half the rate of 2006.

“After three months of broadly flat growth, house prices increased by 0.8 per cent in July,” said Fionnuala Earley, Nationwide’s group economist.

“Annual house price growth is now 5.9 per cent, more than double the rate of growth seen this time last year when prices were increasing at an annual rate of only 2.6 per cent.”

Nationwide is also predicting that house prices could soften later in the year, as the estate agent stock to sales ratio, a good indicator of house supply and demand, continues to stabilise.

Those interested in selling property can find further information at homesgofast.com.

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