For the third month in the row, against the expectations of both analysts and homeowners alike, house prices in the UK continue to rise.
Mortgage lender Nationwide reported a 1.3% rise in average house prices, from £156,442 to £158,871 in the month of July, citing family home purchases in sought after locations.
The quarterly rate of increase rose from 1% in June to 2.6% in July —the largest increase since February 2007. There is also the possibility that house prices may end the year at a higher price than that of the start of the year!
These are challenging times at the moment and even though we are getting some positive data in a number of areas, I feel the road ahead is still a rocky one.