Q2 house prices 'rose 0.5%'

Posted: 05 Aug 2011 12:12:06 GMT

House prices in the second quarter of 2011 were greater than during the first three-month period of the year.

Second quarter house prices throughout the UK in 2011 were greater than they were across the first three-month period of the year, it has been shown.

New figures released by Halifax - through its House Price Index - revealed these costs were 0.5 per cent higher in the three months to July, marking the first escalation of such a measure for 14 months.

Furthermore, prices elevated for the third consecutive month across this timeframe, with an increase of 0.3 per cent witnessed in July.

The average UK house price in this month stood at £163,981, which was 0.7 per cent greater than December 2010's figures.

Martin Ellis, housing economist, said: "These steady market conditions have helped to stabilise house prices in 2011 following last year's modest decline."

He added this pattern is expected to continue for the remainder of the year with little further movement for either house prices or sales.

The findings follow recent statistics from Registers of Scotland that showed property prices in Scotland rose across the first quarter of the financial year.
 

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