<< Most Recent Articles

House prices on the up

Annual house price inflation continues to grow, according to new numbers from Halifax.

The firm's monthly house price report found that annual inflation for November stood at 9.6 per cent, 1.7 per cent higher than in October.

Despite two interest rate hikes in the past four months, it appears that homebuyers are still clamouring for properties, with the average selling price last month standing at £187,995.

However, Halifax chief economist Martin Ellis believes that the market is set to slow in coming months.

"The marked slowing in real average earnings growth over the past six months, and a squeeze on households' discretionary income due to the substantial increase in utility bills during the last year, should temper housing demand," he said.

According to the Bank of England, new mortgage approvals were at their highest rate since 2003 last month.

For moving costs, click here to see how much you could borrow with Lombard Direct.

08/12/2006 12:32:26

Most Recent Articles