House values could finish 2009 on a high

An expert has suggested people could see their houses being worth more at the end of 2009 than they were last year.

Property owners were recently told a study found adding a conservatory or other form of space-creating extension could boost the value of their residence by fiver per cent.

However, this would be in addition to the increase predicted by Nationwide that could effect many UK abodes.

A study from the lender found values had increased by 1.3 per cent between June and July, placing the average house price at £158,871.

Nationwide predicted values might finish the year higher than they began – a hope echoed by Assetz chief executive Stuart Law, who suggested there could be between five and ten per cent growth across 2009.

"There are many risks to this happening but at the same time there are many good reasons why it will happen," he added.