The average price of UK property is showing "strong signs" of growth in the early part of 2010, according to a new report.
Figures from Nationwide’s latest house price report have revealed that the average UK property is now worth £163,481.
Using official figures from the Land Registry’s December data, this represents a monthly increase of £1,698.
This could be seen as good news by anyone contemplating an equity release plan to ease their financial situation as the UK exits recession.
Equity release schemes can provide homeowners with a welcome financial boost with money drawn from the value of their homes.
Commenting on the price rise, Martin Gahbauer, Nationwide’s Chief Economist, said: "Although there may still be some upward revisions to the initial estimates of economic growth, this won’t change the fact that the rebound in the housing market – and particularly house prices – has gone some way beyond the recovery in the overall economy."
