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HOUSE PRICES ROSE SLIGHTLY DURING 2010

House prices ended the year barely higher than they started, according to the latest survey from the Nationwide building society.

It says prices rose by 0.4% in December, leaving them also 0.4% up on a year ago.

It means the average UK home now costs just under £163,000.

The Nationwide forecasts that house prices will continue to drift down in the first half of 2011, as they have been doing for the past few months.

"Despite December's increase, house prices have fallen in four out of the last six months and it would be premature to suggest that the recent downward trend has been broken on the basis of one month's figures," said the building society's chief economist Martin Gahbauer.

"However, the December figures do underscore the fact the current downtrend is only very modest, particularly when seen in comparison to the second half of 2008," he added.

Many commentators expect house prices to fall over the course of 2011 - some more than others.

 

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