UK house prices up 0.7 pct in September – poll

The average UK house price rose 0.7 percent in September from the month before, boosted by rising values at the top end of the market and giving further evidence the market is recovering, a poll showed on Thursday. The poll of polls by property consultancy Chesterton Humberts and the Centre for Economics and Business Research (CEBR) found average prices have now increased for four consecutive months, though they remain 5.9 percent down on September last year.

"Prices are steadily increasing at a sustainable level, displaying an increased level of both vendor and buyer confidence," said Chesterton Humberts Chief Executive Robert Bartlett in a statement. The average price in England and Wales was 169,083 pounds ($270,600), up 1,142 pounds from August but down 28,404 pounds from a peak in January 2008, the poll showed. Average prices in Scotland and Northern Ireland were 159,159 pounds and 181,178 pounds respectively.

CEBR Chief Executive Douglas McWilliams noted prices for the top 20 percent of houses by value rose 1.6 percent in September, while the bottom 20 percent of houses by value were down 0.2 percent.

"This national increase disguises the mixed fortunes of the two ends of the housing market," McWilliams said.

Earlier in October, mortgage lenders Nationwide Building Society and Halifax (part of Lloyds Banking Group Plc) said British house prices rose in September by 0.9 percent and 1.6 percent respectively.

Nationwide said house prices remained unchanged in the year to end-September, while Halifax said they were down 4.8 percent.

The Chesterton Humberts/CEBR poll is based on data from Communities and Local Government House, The Land Registry, Halifax, Nationwide, Rightmove.co.uk, Home.co.uk and Hometrack.