House prices rise in January
House prices rise in January
Monday, 08, Feb 2010 09:00
Last month saw house prices rise for the seventh consecutive time, according to the Halifax House Price Index.
The increase was a moderate 0.6 per cent and takes the average price to 9.9 per cent above its trough in April 2009.
According to the Halifax, the Bank of England's interest rate reductions have boosted housing demand, which, coupled with low supply, pushed up process.
It suggested that house prices will remain flat during 2010, as more people put their properties up for sale.
Currently, the average house price is £169,777, up £15,287 since April last year, while further property figures from Halifax have revealed that house prices increased by 105 per cent over the past ten years.
The noughties saw prices go up by more in real terms than in any other decade over the last 50 years.
Property in Yorkshire and the Humber saw the biggest rise during the decade, with houses in Greater London showing the smallest price gains.