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House prices rise 0.8%
House prices increased for the second month in a row, by 0.8% in August compared to July, according to data released by the Halifax.
Prices in the three months to August compared with the previous quarter were 1.7% higher, the biggest rise in this measure since July 2007. The average UK home is now valued at £160,973.
However, property values are 10% lower in the three months to August compared to the same period a year ago.
"Demand for housing has increased since the start of the year due to better affordability and low interest rates," said Martin Ellis, housing economist at the Halifax.
Post Date: September 10th, 2009
Prices in the three months to August compared with the previous quarter were 1.7% higher, the biggest rise in this measure since July 2007. The average UK home is now valued at £160,973.
However, property values are 10% lower in the three months to August compared to the same period a year ago.
"Demand for housing has increased since the start of the year due to better affordability and low interest rates," said Martin Ellis, housing economist at the Halifax.
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Post Date: September 10th, 2009
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