Written by Mark James
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Thursday, 9 April 2009

image for Surprise Bounce in House Prices
The Old Vicarge, Totteridge

UK building society, NationIfax, announced this morning a surprise rise in house prices. Figures for March show house prices across the UK rose by 0.0012%.

The figures were greeted with excitement by the markets with the FTSE100 up 0.1 points at 0.2 in early trading.

President Obama, in London for the G20 summit, hailed the news saying 'Rise, you can walk again' before turning the delegates' water into wine.

Commenting on the rise, NationIfax head of communications, Kerry O'Godnot-Again, said "These are the only figures based on actual house sales. We calculate the average rise by looking at the previous sale price of each and every sale recorded in a particular month.

"This month, there was only one sale. Mr Clive Smith of Totteridge in Devon bought The Old Vicarge for £8 more than was paid for it when it last sold, four years ago."

Mr Smith was unavailable for comment.

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