20 Mar

House prices rise in year to January 2013

House prices rise in year to January 2013

House prices rose in the 12 months to the end of January as estate agents capitalised on the swell in demand brought about by an increase in the availability of mortgages.

The Office for National Statistics (ONS) released the latest index that showed the final sale value of homes in the UK in January was a full 2.2 per cent higher than it was in the same month a year ago.

Credit has often been afforded to the Funding for Lending Scheme (FLS), which the government brought in last July to improve the volume of mortgages being improved.

This has seen lending grow each month since as banks lower rates and make products more affordable for buyers.

It was also discovered, however, that the rate of growth had slowed when compared to December of 2012, when prices increased by 3.3 per cent compared to the end of 2011.ADNFCR-1222-ID-801559364-ADNFCR

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