House prices top the £200k mark

House prices in the latest quarter were 3 per cent up on the preceding quarter and 9 per cent higher than a year ago according to Halifax’s latest house price index.

This means that the average price, at £204,674, for a home in the UK has now topped the £200k barrier – a monthly increase of 2.7 per cent over the previous.

It would seem that the shortage of secondhand properties for sale on the one hand, coupled with the economic recovery, real earnings growth and very low mortgage rates on the other are fueling the rise.

It’s quite likely that these supply and demand conditions will remain, at least for the short term, and help maintain prices over the £200k mark for some time to come.

Posted on September 10, 2015 by Peter Marriott, in: Uncategorized

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