Many parts of US 'still seeing house price rises'

Although some places in the USA have seen prices plummet in the recent slump, a number of locations in the country are still enjoying price rises, it has been reported.

Real estate experts have told the Times that those places which did not see prices rise as much in the recent boom years and had a low proportion of sub-prime buyers are now seeing prices increase despite the trend elsewhere.

Locations such as Texas, the Carolinas, Rhode Island and upstate New York are all seeing increases as their differing economic trends ensure the local markets continue to do well.

Such a variation was also noted in the Knight Frank global property survey that was published this week.

It singled out Oklahoma as a state that has bucked the trend, with an average house price increase of 4.9 per cent in the past year.

The survey also stated that there is evidence of a recovery in some large cities.