UK house prices jump by most since 2007 – Halifax

imageEconomic Indicators4 hours ago (Oct 07, 2021 08:41)

© Reuters. FILE PHOTO: Construction workers build a new house in Aylesbury, Britain August 6, 2020. REUTERS/Matthew Childs/File Photo

LONDON (Reuters) -British house prices rose by the most in almost 15 years in September ahead of the end of a tax break for house-buyers and they were expected to continue their climb to new record high levels, mortgage lender Halifax said on Thursday.

Prices rose by 1.7% from August, the biggest monthly increase since February 2007.

In annual terms, house price growth also accelerated to 7.4% from 7.2% in August having slowed in each of the previous three months.

Britain’s housing market turned red hot after the lifting of the country’s first coronavirus lockdown last year as people working more from home sought bigger properties and after finance minister Rishi Sunak cut a tax on home purchases.

That tax cut expired fully at the end of September.

Russell Galley, Halifax’s managing director, said a shortage of homes for sale would remain the biggest factor for the market and would underpin prices into next year, even if the pace of price growth was likely to slow.

UK house prices jump by most since 2007 – Halifax

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Please enter your comment!
Please enter your name here