UK house prices up, says Halifax

Posted 04/08/2011

Many people looking to move home may want to seek advice from a residential conveyancing solicitor regarding the matter.

This is because, according to the July House Price Index from Halifax, the cost of properties in the UK is increasing.

Month-on-month, there was a 0.3 per cent rise in values, while they went up by 0.5 per cent compared with the previous three months.

This took the average cost of an abode in the UK to £163,981.

However, prices were 2.6 per cent lower than the same time a year previously.

Martin Ellis, housing economist at Halifax, noted that this is the third consecutive month in which costs have grown.

“This pattern is expected to continue over the rest of the year with little genuine direction in either house prices or sales,” he continued.

In June, Halifax found the average price of a UK abode to be £163,049 and Mr Ellis suggested a “slowly improving economy” should bring stability to the market over the coming months.

If you need help with residential conveyancing, the team at Ashtons Legal can offer professional advice.