10 Sep

UK house prices see seventh monthly rise

UK house prices see seventh monthly rise

The price of purchasing homes in the UK through estate agents rose for the seventh month in succession in August, a new monthly report has stated.

According to the figures published by Halifax, the cost of buying rose to an average of £170,231 during the month, meaning a quarterly growth of 2.1 per cent. 

The market is also steadying in its increases, Halifax said, with the three months to the end of June and July also having recorded 2.1 per cent rises. 

On a monthly basis, prices were up by 0.4 per cent - this was the seventh month in a row that they have nudged upwards.

And compared to last August, final sale values sat 5.4 per cent higher. This was the fastest annual rate of growth seen at any time since June 2010 when it sat at 6.3 per cent.

"Housing market activity is also on an upward trend with the number of mortgage approvals for house purchases, a leading indicator of completed house sales, ten per cent higher in the three months to July compared with the previous quarter," said Halifax housing market economist Martin Ellis. ADNFCR-1222-ID-801635796-ADNFCR

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