House prices up for third consecutive month

UK residents who have invested in a conservatory or roof light and loft conversion could see the value of their home raise further still, according to recent research.

A survey earlier this month noted such improvements could add five per cent to the worth of a property.

Meanwhile, Nationwides latest House Price Index has shown residential values have increased for the third month in a row.

The statistics revealed a 1.3 per cent rise in July – making it the strongest three consecutive months since February 2007.

According to the data, the average price of a UK property is now £158,871 – 6.2 per cent down on July 2008 figures.

Commenting, Nationwide chief economist Martin Gahbauer explained the statistics make good reading for homeowners.

"Even if prices were to remain unchanged for the rest of 2009, the year-on-year rate would continue to improve since prices were falling very sharply in the second half of last year," he stated.