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South West property market survives recession best – This is Gloucestershire


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Britain’s house prices are the marvel of the world. Nowhere else do a nation’s citizens pay such close attention to the ebb and flow of their home’s value even when, last year, it was bad news pouring out of the many house price indexes published each month.


The start to 2012 has been better, depending on your home’s location.


If you own a property in the South West, London, the South East, or West Midlands then your local property markets have survived the recession best.


But in general during January prices rise as everyone fulfils their New Year’s promise to move home – demand for homes spikes and so do prices.


This year has been no different but the small jumps in most indexes (from Halifax, Nationwide, Land Registry and FindaProperty.com) are surprising given the buffeting people’s confidence is being given at the moment.


Halifax says prices increased by 0.6 per cent during January, the second rise in the past six months and the first since October. Nationwide, which publishes its results sooner than rival Halifax, reckons house prices rose by 0.6 per cent during February and that prices rose in nine out of 13 regions of the UK led by London. The FindaProperty.com index, which looks at asking prices, reveals rises for the first time since September and the Land Registry’s index, the grand daddy of them all, says house prices rose by 1.1 per cent during January.


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Also, the new homes market is improving – prices for new properties rose by 0.8 per cent during January and several builders have recorded returns to profitability.


So it’s a rosier picture than last year. And after reading the above paragraphs you may be reassured that our nation’s housing market is no longer in free fall, as it was back in 2009 and early 2010 when prices dipped by 15 per cent year-on-year.


But homes elsewhere have fared less well. Prices in the North East, North West, East Midlands, East of England, Scotland and Wales have remained weak or declined during one of the busiest periods in the property calendar.


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