A Further Rise in House Price Inflation
Published / Last Updated on 08/07/2014
A Further Rise in House Price Inflation.
The latest survey from Halifax has showed that annual house inflation is still edging up yet again. Although house prices fell slightly between May and June, in the first three months to June they were up 8.8% compared with the previous year of 8.7%.
Halifax said that prices fell by 0.6% between May and June, this was the fourth monthly fall since last December. The average house price across the UK is now at £183,462.
The Nationwide Building Society said last week that prices had risen 11.2% in the last year and were now higher than the peak of the market in 2007.
In the fear of the housing market overheating, the Bank of England’s Financial Policy Committee (FPC) introduced a new set of rules that would see lenders having to performing tougher affordability checks on those wishing to lend.