The latest figures from Halifax show that the property market has no signs of slowing down just yet
Phew. What a summer! We’ve enjoyed the sizzling temperatures in the UK and it looks like things are hotting up in the property market, too.
New figures from Halifax reveal that house prices have risen an incredible 10% compared with this time last year.
The Halifax House Price Index showed that prices in the three months to July were 10.2% higher than in the same period in 2013.
The average house price in the UK now stands at £186,322, according to the Halifax.
And it’s not just values, of course, that are shifting. Home sales during April to June were 21% higher than in the same three months last year.
It appears that many of us believe that this is a good time to sell, too.
Over half (57%) of those surveyed for the Halifax Housing Market Confidence Tracker believe that the next 12 months will be a good time to sell (compared with 32% who think it’s a bad time). This is the highest score since the survey began in April 2011.
‘While supply remains low, housing demand continues to be supported by a continuing economic recovery, growth in employment, improving consumer confidence and low mortgage rates,’ says Stephen Noakes, Mortgages Director at Halifax.
‘However, earnings growth is still lagging behind consumer price inflation.’
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