Aug/090
Halifax: UK house prices on the increase
According to one of the UK’s largest mortgage lenders, house prices are now rising at a constant rate adding weight to the arguement that the housing market is undergoing a recovery. Halifax, conducted a survey of all their properties and results showed a 1.1% increase in July alone meaning the average price of a house has increased to £159,623.
Increases in average house prices have been hard to come by since October 2007 when the last quarterly increase took place. However, in the 3 months prior to July house price had already increased by 0.8% on the previous quarter.
It is one thing being told this by estate agents and mortgage lenders, but when large private housebuilders make similar claims we should take notice. Taylor Wimpey said it was seeing signs of a turnaround, with its sales rising in the first six months of the year. A company statement read: “there are signs that the situation is beginning to improve.”
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