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Property Prices Rise 4.7 Percent
Property sales across the whole of the UK property market may have been 6.8% lower than 2008, but it is undeniable that 2009 ended on a high.
During the last 6 months of 2009, property prices are reputed to have risen by 4.7% - a 2.5% gain for the year according to popular property portal Zoopla.co.uk. And it would appear that the second half of 2009 as a whole was a complete contradiction to its first half...
Continuing in their research, property portal Zoopla revealed that:
- 273,015 property investments changed hands in the first half of 2009 – down 36.9% from 2008 – whilst in the second half there were 421,732 transactions which was only 34.6% down
- Property prices fell by 2.2% at the beginning of 2009 (down from £205,607 on average to £201,067) whilst in the second half they rose by 4.7% - a gain of 2.5% for the year
- Transaction volumes entered into double digits during the fourth quarter of 2009 in all regions compared to 2008
Property advisors are contributing this rapid rebound in 2009, a year which is now described as a year of ‘2 halves’, to increased activity from property investors across the property market.
The south of the UK in particular increased interest from property investors who confessed that tempting property prices and the ending stamp duty holiday inspired them to invest in property.
More about the author of this article
Stephen McIntosh, Property Mentor Delegate
With a £40k passive income per year Stephen McIntosh knows that property investment is one of the most exciting and achievable ways to become wealthy “Property is the best employee ever! It doesn't have days off, never calls in sick or with a hangover, works 24 hours a day, 7 days a week and never has a holiday. All the while making you £££s Read more
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