Homeowners who are considering taking out an equity release scheme in order to boost their finances in the post-recession environment could be among those to be encouraged by new government figures on house prices.
According to the latest House Price Index from the Department for Communities and Local Government, UK house prices increased by 2.9 per cent between December 2008 and December 2009.
The report also revealed that the average price of a UK property stood at £200,307 in the final month of 2009.
This figure could be seen as good news by those who are thinking about an equity release scheme, for example a lifetime mortgage or home reversion.
Data from the report has suggested that house prices in England Scotland and Wales have outperformed those in Ireland.
While the mainland countries recorded growth of three per cent, 3.8 per cent and one per cent respectively, property values in Ireland crashed by six per cent.
