7 Jun

House prices rise by 0.4% in May

House prices rise by 0.4% in May

The cost of house prices in the UK has risen again in May as the strong first half of 2013 continues, according to the latest data released by the Halifax.

The building society said that the average price for homes for sale through estate agents rose by 0.4 per cent during the month. This built on rises seen in the months prior, and means there has been a 1.5 per cent increase between May and March when compared to the three months before.

The increases are still being facilitated by the fact that more people are able to get affordable mortgages in 2013, with the Funding for Lending Scheme continuing to allow lenders to give out mortgages without the fear of losses seen in times gone by.

Martin Ellis, Halifax housing economist, told the Independent: "House prices continue to pick up gradually. Market activity has also improved slightly in recent months although home sales remain low by historical standards."ADNFCR-1222-ID-801596356-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.