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Posted: 20.01.14

Growing house prices provide good incentive to invest in home improvements.

Growing house prices provide good incentive to invest in home improvements.

The Nationwide house price index has reported that average UK house prices rose 8.4% in 2013. A strong upswing in December of 1.4% capped a strong year.

Although prices still lag around 5% from the peak in 2007, the growth is especially promising because figures indicate that every region in the UK experienced a rise in house prices during 2013.

At the extremes were London – where growth was 14.9% – and northern England, which experienced a rise of only 1.9%. Other regions saw a rise in prices of between 3.7% and 8.6%.

With average prices rising, homeowners who commit to home improvements will be more likely to see a return on investment when they sell. Possible improvements include installing new fascia boards or soffits, or brightening the garden with natural-look uPVC decking.