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House prices rise 1.4%
House prices have increased for the fifth month in succession, according to data released by the Halifax.
The survey by the mortgage lender revealed that prices went up by 1.4% in November, meaning that the average price of a UK home is now £167,664. This is a decrease of 1.6% from the same month last year, but house prices have risen 4.2% since the start of the year.
"The recovery in house prices since the spring has been driven by increased demand for property, largely due to the improvement in affordability for existing homeowners and first-time buyers who can raise the necessary deposit," said Martin Ellis, economist at the Halifax.
Post Date: December 8th, 2009
The survey by the mortgage lender revealed that prices went up by 1.4% in November, meaning that the average price of a UK home is now £167,664. This is a decrease of 1.6% from the same month last year, but house prices have risen 4.2% since the start of the year.
"The recovery in house prices since the spring has been driven by increased demand for property, largely due to the improvement in affordability for existing homeowners and first-time buyers who can raise the necessary deposit," said Martin Ellis, economist at the Halifax.
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Post Date: December 8th, 2009
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