Recent figures from Nationwide Building Society have shown a 0.6% increase in average property values in November. They also reported that values are still 6% below the peak in 2007.
This recent increase shows that the housing market in the UK is continuing to recover. The improved availability of credit and the positive news about the property market is improving sentiment amongst buyers and sellers in the UK.
Robert Gardner, Chief Economist at Nationwide, commented: "A large part of the improvement can be attributed to further improvements in the labour market and the brighter economic outlook, which has helped to bolster sentiment amongst potential buyers."