Wednesday, October 21, 2009
Category:
Property
According to Nationwide, house prices in every UK region improved during the third quarter – particularly in the South East, South West and Northern Ireland.
Despite the annual percentage change remaining negative, the results for quarter three showed a 3.7 percent increase in UK property prices. This raised the annual UK figure of minus 11.7 percent, recorded in the second quarter, to minus 3 percent in the third.
The results revealed that the South West saw the most significant rise in house prices in England, at 4.9 percent during the third quarter, which caused the annual figure of minus 13.2 percent to increase to minus 1.6 percent.
In Scotland, property prices were reported to have risen by 3.4 percent throughout the third quarter, which moved the annual rate of change to minus 1 percent from minus 10 percent. Therefore, Scotland was recorded as being the ‘best performing region’ when it comes to annual statistics in the third quarter. Wales on the other hand was found to have experienced the smallest quarterly price rise during the third quarter at just 0.1 percent, following a rise of 7.6 percent in the second quarter.
Finally, findings revealed that the greatest quarterly increase in property values was witnessed in Northern Ireland, at 9.7 percent. This increase came after eight quarters of house price reductions.
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Homeowners who have just moved into a new property, or have decided to renovate their existing property, could consider taking out a secured loan to fund the work required. One of many finance options available, a secured loan for
home improvements could allow the borrower to embark upon a vast array of projects. For example, draughty doors, windows or a leaky roof could be replaced if necessary. Additionally, extra living space could be created by means of an extension, conservatory, or attic conversion.
