Well the figures are out and we’re still in a recession, the economy continued to contract over the third quarter of 2009 by 0.3%. But it’s not quite as bad as the predicted 0.4% so there is some good news. And there’s more: according to Nationwide’s latest figures, there’s been a 7% rise in house prices since the end of the first quarter which aint bad seeing as we’re getting closer to the depth record held by the 1930s recession.
When you look at the overall figures, 7% may not sound amazing and there isn’t many occurances of a quick house sale that’s for sure. Since the housing market downturn began in September 2007, house prices had fallen 23% up until April of this year. The increase we’ve seen recently is no doubt down to the quantitative easing policy introduced by HM Government and the increase in lending by a number of high street banks.
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