Housing demand and confidence increases prices at £70 a day

Housing demand and confidence in the British property market has had recent profound impact in raising average house prices up £70 a day in the last monthly quarter. Property analysts anticipate that this will conclude the long lasting debate concerning the housing slump.

British bank Halifax recently published figures showing the gradual rise in average property prices in periods May to June. In June prices stood at £163,049 which represented an increase of 1.2% on May.

Further statements given by Halifax’s housing economist Martin Ellis show that “Low interest rates, an increase in the number of people in employment and some tightening in market conditions earlier in the year are likely to have been the main factors behind the recent improvement” Read more of this post