UK House Price Annual Rise
Published / Last Updated on 05/08/2014
UK House Price Annual Rise.
Halifax has released their annual house prices figures that show the house prices in July were up 10.2% compared with the year before. This was the biggest annual change since 2007.
Halifax’s Mortgage Director said that “While supply remains low, housing demand continues to be supported by a continuing economic recovery”. June saw a monthly increase to bring the average home to be priced at £186,332.
Other surveys are not in line with Halifax’s data suggesting a slowdown in the price market. However, the survey does say that despite a decline being recorded in June monthly house prices grew by 1.4% in July. The report explains that monthly data can be volatile and a quarter on quarter is much more reliable.
Halifax’s Market Confidence Tracker has shown that people thinking of selling has grown. Over half of those asked said that the next 12 months would be a good time to sell.