3,500 extra to buy a house, says Halifax by Finance News Bulletin

Published: 16/02/07

Due to the 17 per cent increase in home prices in November, homebuyers are now facing the view of shelling out an extra £3,500The latest Halifax house price index has exposed that the average property price in the UK is at present £187,995, a total that is around £17,000 more expensive than in JanuaryReasons for the add to have been cited as a lack of property on the market as well as a lack of family homes being built to accommodate rising insist, according to the UK's largest mortgage lender

Martin Ellis, chief economist at Halifax, explained: "The marked slowing in real standard earnings growth over the past six months and a press on households' optional income due to the substantial increase in utility bills during the last year, should temper accommodation demand As a consequence, we expect house price inflation to ease over the coming months"Allied to this, Halifax predicts that the there Bank of England base rate of five per cent - the uppermost level for five years - will begin to have an effect on property insist next year, resulting

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