House prices rise in March

Posted: 09 Apr 2015 16:49:44 GMT

            Property News - House prices rise in March

Property values rose again in March in the UK.

UK house prices have continued to increase in recent weeks, the latest Halifax House Price Index has revealed.

The typical house value in the UK was £192,970 in March, representing a 0.4 per cent rise from February and an 8.1 per cent increase from the same month in 2014.

For the first quarter of 2015, average house prices in the UK were 2.6 per cent higher than in the final quarter of last year.

Furthermore, mortgage approvals continued to grow with a two per cent monthly rise from February to March, while the number of sale completions increased by 2.5 per cent for the month.

Looking forward, Halifax housing economist Martin Ellis commented: "The recent return to real earnings growth for the first time in several years, very low mortgage rates and last December's stamp duty changes are supporting housing demand."

However, he added the ongoing rise in house prices in relation to average earnings is expected to curb any considerable further growth in both home values and market activity in the months ahead.

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