Halifax House Price Rise Accelerating

Halifax House Price Rise Accelerating.

The UK property market is seeing a continued acceleration of house price rises. Halifax has produced its market surveys and has said that house prices rose 2.4% last month, this was 7.9% higher than the year before.

This means that the rise was at the fastest annual pace since October 2007 and leaves the average house price around £179,872. House prices and mortgage lending is continuing to rise thanks to better economic conditions.

However this data may only be half the picture as all the figures shown are based on Halifax’s own lending, meaning that data will often differ from competitors and other official house reports such as the Office for National Statistics (ONS).

All data is showing the same pattern of house price rises and all are suggesting the fastest rate of rises are seen in London.