There's good news for
homeowners with figures from one high street bank showing house prices rising for the fourth month in a row.
Halifax says property prices increased by 1.2% in October, taking the average cost of a property in the UK to £165,528 - 2.9% more than at the end of last year.
Prices are now £11,000, or 7.1%, higher than when they were at their lowest point in April.
The bank says the increase is down to public confidence in the economy, low interest rates and the previous drop in property prices.
Martin Ellis, a housing economist from Halifax, said: "There are some indications that more people are deciding to put their homes on the market, encouraged by the recent improvement in market conditions."
However, the rise in prices means the rate at which prospective buyers are registering with estate agents is likely to slow as the house price-to-earnings ratio grows again.
Last week Nationwide released results showing prices had risen for the sixth month in a row in October.
Some experts have claimed this current rate of growth cannot be sustained and that there is a risk of a relapse next year.
Howard Archer, chief UK and European economist at IHS Global Insight, said: "We believe house prices will be at least 5% lower at the end of 2010 compared to now, and would not be surprised if the slippage is greater still."
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