Property values rise, but still 14 per cent down on January 2008

The latest figures from the Land Registry show the first positive change in house values in a year and a half.

According to the statistics, the average value of a UK home rose 0.1 per cent in June, taking it to £153,046.

However, homeowners thinking of selling their property rather than improving it with a conservatory or folding sliding door may be interested to hear this figure is still 14 per cent lower than that noted in January 2008.

One of the main contributors to the positive change was the London market, where residences rose in value by two per cent last month to an average of £301,859.

Residents in the north-east have not been so fortunate, with 23 per cent being chipped off the value of their abodes in the past 18 months. managing director Keshav Thukaram explained the figures overall were good news as they contained the first signs of positivity for many months.

However, transaction levels have also been affected in the last year or so, falling 42 per cent in the 12 months to April 2009.