- Thursday, 30 July 2009Properties at the lower-end of the UK housing market depreciated last month as overall property prices rose.
That is according to data from Chesterton Humberts' Poll of Polls, which stated that the average house price in England and Wales increased in June - the first rise since April 2008.
However, despite the overall rise in house values, owners of less valuable homes have seen prices fall.
With that particular area of the demographic more susceptible to recession-related financial difficulties, a decrease in home value could be highly detrimental.
For those that find house devaluation the 'final straw', entering into an
individual voluntary agreement (IVA) could help get things back on track.
The cover up of house value discrepancy in the overall price rise has been attributed by one expert to the anomaly of London.
Selwyn Lim, director at Mouseprice, said: "London has outperformed the rest of the country over the last couple of months and, bearing in mind that London property is on average a lot more than the rest of the country that could possibly be behind the discrepancy."
The average UK property cost £155,600 in June.
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