10 August 2009
Figures from the Halifax - now part of the Lloyds Banking Group - show a 1.1% rise in average house prices in July, with the average UK home now costing £159,623. This was the third rise in the first seven months of 2009.
“Demand for homes has risen, albeit from a very low base, since the start of the year, driven by improvements in affordability and low interest rates. Higher demand has combined with the low levels of property available for sale to boost sales activity from exceptionally low levels and support prices over the past few months,“ said Halifax housing economist Martin Ellis.
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