Halifax report the Fastest house price rise in 9 years

Growing graphAccording to the Halifax, house prices increased by 9.5% during 2015, the most dramatic yearly increase since 2006.

In December the cost of an average home was £208,286 up 1.7% from November.

Martin Ellis, Halifax’s housing economist claimed that a key contributing reason for this increase was the prevalent shortage of property for sale. He said “This situation is unlikely to change significantly in the short term, resulting in continuing upward pressure on prices.

The largest house price increase was seen in Newham, East London where prices rose 22% in 2015 alone.

This continued upward pressure on demand is great news for those who are looking to sell property, and with increased interest from buyers and supply taking time to trickle onto the market in January, now is a great time to sell.

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1 thought on “Halifax report the Fastest house price rise in 9 years

  1. A perfect storm is on it’s way due in part to the lack of housing stock, reluctance to move because of the lack of suitable properties, and of course overseas investments. It does not bode well for future generations.

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