House price growth gains pace

First Published:	02/10/2006 13:40:22
The recent rate rise has done little to deter homebuyers, according to the latest survey on the housing market with prices now rising at their fastest pace for two years. Property consultant Hometrack said British house prices rose at an annual pace of 4.3% in September compared with a year earlier, the fastest annual pace for two years. Hometrack said the demand for homes has come as a result of a lack of properties coming onto estate agents books. Richard Donnell, director of research at Hometrack, said, “Despite the rate increase in August, house prices continue to rise as we start the autumn selling season." "Prices have risen in nine out of 10 regions over September, largely on the back of a 0.4% decline in the volume of homes available for sale over the month,” added Donnell. Hometrack added that prices actually rose 0.4% in September, the same as a month earlier taking the average UK home price up to £167,900.
Source:  ShareCast http://www.sharecast.com