House prices still rising

In the current market, house prices are very unstable rendering them almost impossible to predict. This has caused many companies to issue varied predictions for 2010. The most recent figures released by the Royal Institution of Chartered Surveyors (Rics), showed that at the end of 2009 the recent increase that the market has seen, began to reduce.

Their survey showed that during the month of December 30% of surveyors saw prices in housing rise, although this increase is lower than the previous two months. The Government also ran a survey, which showed housing prices increased by 1.7% compared to the 1.1% seen the previous year. This now puts the average house price up to £200,454, which shows an increase up to the month of November.

Although December did not see a drop in house prices it did see the level of increase decline, this should not be seen as a bad sign as it could be due to the holidays. Another factor in recent drops across the economic climate will be the weather. The snowfall has had a negative effect to nearly all businesses, with gas and electric companies being amongst the few to benefit.

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January 13^th 2010

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