The Halifax has spoken out about their belief that a lack of housing is the reason for prices still rising.
According to Halifax's chief economist, Martin Ellis, his calculations are that house prices have increased 16.7% in the last 12 months. Mr Ellis also mentioned that employment in the UK was still stable and that lending was again on the increase.
Our View
As members of the general public, we have never seen so much new home building, we are still seeing many new properties. Halifax believes that the majority of new properties are three and four bedroomed. We would agree with this although there are so many new developments of 1 and 2 bedroomed starter homes. This could help first-time buyers get on the property ladder.