Average house prices increase for June

House prices have once again increased for the third time in four months. First quarterly increase since December 2007.

According to Nationwide's statistics the averagre house price in the UK rose by 0.9% in June 2009 and now sits at £156,442. These recent rises are thought to be to a shortage in the supply of houses in recent months. This is likely due to many would be sellers removing their properties from being marketed due to lack of demand in 2008. Therefore the low supply is supporting house prices for the time being.