Halifax: House prices saw October rise of 1.2%
Date posted: 04 Nov 2009
The house price increases witnessed in recent months have arisen because greater demand for property has not been matched with a large supply, it has been suggested.
Figures published by Halifax find that, on a seasonally adjusted basis, house prices went up by 1.2 per cent last month.
Martin Ellis, housing economist at the firm, noted that house prices have now risen in the past four consecutive months.
He said: "Nationally, house prices have risen by 2.9 per cent since the end of 2008.
The house price increases witnessed in recent months have arisen because greater demand for property has not been matched with a large supply, it has been suggested.
Figures published by Halifax find that, on a seasonally adjusted basis, house prices went up by 1.2 per cent last month.
Martin Ellis, housing economist at the firm, noted that house prices have now risen in the past four consecutive months.
He said: "Nationally, house prices have risen by 2.9 per cent since the end of 2008.
"Higher demand has combined with a low level of properties available for sale to result in rising house prices over the past few months."
The expert further suggested that a greater number of homeowners may now be tempted to consider selling their homes, as market conditions have recently shown signs of improvement.
Last week, Nationwide claimed that house prices increased by 0.4 per cent in October, with the average price reaching a value of £162,038.
Click here to email or call on 0207 382 8060.
Partner
Our team work with commercial and residential developers, property investors and property funds, construction companies, registered providers, private clients and land owners.
Learn more...
