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10/09/2009
House Prices Increase By 0.8%
House prices have increased by 0.8% in August according to the Halifax.
This was the second successive monthly rise and the fourth in the first eight months of this year.
Martin Ellis, Housing Economist, said: "Overall, house prices nationally are very similar to the level at the end of last year.
"Demand for housing has increased since the start of the year due to better affordability and low interest rates. This, together with low levels of property available for sale, has boosted house prices over the last few months."
Prices in the three months to August compared to the previous three months were 1.7% higher. This is the biggest increase on this underlying basis since July 2007.
(CD/GK)
This was the second successive monthly rise and the fourth in the first eight months of this year.
Martin Ellis, Housing Economist, said: "Overall, house prices nationally are very similar to the level at the end of last year.
"Demand for housing has increased since the start of the year due to better affordability and low interest rates. This, together with low levels of property available for sale, has boosted house prices over the last few months."
Prices in the three months to August compared to the previous three months were 1.7% higher. This is the biggest increase on this underlying basis since July 2007.
(CD/GK)
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Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
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House prices have dropped by 10.5% over the last year, according to the latest research by Nationwide Building Society. The price of a typical house has fallen to £164,654, the fastest annual rate in almost 18 years. Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said: "The price of a typical house fell by 1.
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