London House Price News: Values rise again reveal Nationwide

The Nationwide's UK house price index shows that values have continued to creep up in November.The average property say a 0.4 per cent increase compared to figures posted at the end of October.It means that annual growth now stands at 1.6 per cent and a typical UK home is worth £165,768.

Robert Gardner, Nationwide's chief economist, said that despite an otherwise subdued economy, property is proving to be one area which can maintain value, but added that in part is due to a lack of houses on the market.

"Given the challenging economic backdrop, much of the current resilience in house prices reflects the lack of supply on the market at present. Indeed, the pace of building in recent years has fallen well below the pace of household formation, especially in England."

Ed Harris, managing director of EH Landlord Services, said recently that he expects house prices to continue to rise over the next ten years.

London House Price News