UK house prices hit highest level in three years
The price of buying homes in the UK has hit its highest level in
three years, days after reports stated that London homes were now
averaging values that exceeded pre-recession peaks for the first
According to new figures released by the mortgage division of
Lloyds Banking Group, the cost of purchasing through estate agents
in the UK has now hit an average of £167,984 in June.
This was the highest that the mean value of homes in the country at
any point since the same month in 2010, and it represents a 4.1 per
cent year-on-year growth compared to 2012.
Martin Ellis, housing economist at Halifax, said: "Improved
confidence in both the housing market and the economy, combined
with a shortage of properties available for sale, appear to be
pushing up house prices."
However, Mr Ellis was keen to add that caution should be exercised
at the moment, with demand still unstable and the number of
mortgages available remaining relatively low.