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Housing demand still strong, says Halifax

Wednesday, 11 June 2014  |  Admin


Housing demand still strong, says Halifax

Demand in the housing market is still strong and house price inflation is still accelerating, according to the UK's largest mortgage lender. The Halifax said prices in May were up 8.7% from a year earlier, a small increase on last month's rate of 8.5%.

The monthly rise was an exceptionally large 3.9%, but the Halifax warned that the monthly figure can be volatile. It said the quarter-on-quarter rise - which showed an increase of of 2% - was a more reliable indicator.

"On an annual basis, housing demand is still strong," the lender said.

It said the average house price in the UK was now £184,464, the highest figure since October 2007.


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Source: BBC Business News

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