Price boost for people selling property

Posted: 05 Jun 2009 12:22:35 GMT

Those selling a property in the UK learned this week that the average value of house in the country was £158,565 in May.

At least that is according to the latest housing survey from Halifax, which indicated yesterday that the month-on-month hike in property prices between April and May was 2.6 per cent.

Halifax said that it was the largest monthly rise recorded in the last seven years - it was an increase of around £4,000.

Figures from Nationwide Building Society last week also indicated an upturn in average house prices.

The financial services provider recorded a monthly rise of 1.2 per cent in property values in May, suggesting the average value during the month was just greater than £154,000.

Responding to Halifax's research, the Royal Institution of Chartered Surveyors said the hike in prices "appears to have more legs" than other increases in value over the last 21 months.


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