Nationwide: House prices rise
Property investors may be interested to know that house prices have risen in May, according to the latest figures from Nationwide.
Property investments may be looking like a more secure prospect again as the latest figures from Nationwide show that house prices have risen in the last month.The building society revealed that the price of the average house in the UK increased by 1.2 per cent in May to £154,016, having fallen by 0.3 per cent in April.
However, even with the slight rise, house prices are still 11.3 per cent lower than they were at this time last year.
Nationwide's chief economist Martin Gahbauer warned that the increase will not necessarily herald an economic recovery or make property investments a sure way of earning money.
He explained: "It is still too early to say that the market is turning definitively. During the downturn of the early 1990s, there were many months during which prices rose, only to fall back down again in subsequent periods."
Nationwide is the largest building society in the UK.
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