U.K. house prices increased in January as low borrowing costs and improving consumer sentiment boosted demand, mortgage lender Halifax said.
U.K. house prices will extend their advance this year as the economic recovery strengthens after a 5.7 percent increase in 2013, mortgage lender Halifax said.
The Bank of England said mortgage availability increased in the fourth quarter and will continue to rise as the government’s plan to aid first-time buyers improves access to higher loan-to-value products.
U.K. house prices rose for a 10th month in November as the supply of properties for sale failed to keep pace with demand, Halifax said.
U.K. house prices slipped in January, according to Halifax, which said the outlook for the property market remains unclear.
U.K. house prices rose for an eighth month in September as government aid programs boosted demand, according to a report by Halifax.
U.K. house prices rose to the highest in almost three years in April as low mortgage repayments helped support demand, Halifax said.
U.K. house prices increased in October for the first time in three months, according to Halifax, continuing what it said is a “highly mixed” picture of the property market.
U.K. house prices rose for the ninth month in October as low interest rates and an improving economy boosted demand, Halifax said.
U.K. house prices unexpectedly rose in January as fewer homeowners put their properties up for sale, squeezing supply, according to a report from Halifax.
"Low interest rates and higher consumer confidence supported by the increasing evidence that a sustainable economic recovery may now be under way are helping to increase housing demand."
- Martin Ellis on Nov 06, 2013