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16 Oct 07 - House Price Rebound Wipes Out Drop
House prices bounced back by a strong 2.7% in September, more than wiping out
the previous month's fall, figures show. Property website
Rightmove said the rise during the four weeks to October
6 was the strongest for six months and helped push the average
price of a home in England and Wales up to £241,642.
At the same time annual house price inflation stepped up
to 10.4%, compared with 9.6% in the previous four week period.
But the group said despite the rebound, the market continues
to show signs of a slowdown, with the less volatile three-month
growth rate dropping to 0.5% for the three months to October
6.
Rightmove said the recent sharp price fluctuations, which
saw prices dive by 2.6% in August, before rising by 2.7%
in September, are largely due to the "distorting effect"
of the introduction of Home Information Packs.
Source: RightMove
News items supplied by SelectNews, produced by PA Business,
part of the group that owns The Press Association, the UK's
national news agency. Copyright (c) PA Business 2007.
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