31 Jan

Houses for sale in the UK see 91 per cent price rise

Houses for sale in the UK see 91 per cent price rise

People looking for property for sale in the UK this year could pay more for a new home compared to prices a decade ago.

House prices have risen by 91 per cent since the end of 2000, according to research by Halifax.

National averages for property for sale in late 2010 are more than £78,000 higher than they were at the end of 2000.

Suren Thiru, Halifax housing economist, said: "The turn of this century marked the start of a period of strong house price growth across the UK."

"The traditional home of price gains, the south, was left behind by strong growth in the north where house prices more than doubled over the period."

Average house prices in the south are now 56 per cent higher than in the north, compared to prices being 80 per cent higher in the south 10 years ago.

Recent figures from Communities and Local Government revealed that house prices rose by four per cent over 2010, making the average house price £208,585.

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