House prices rise in February - Mortgages - News - Moneyfacts

News

House prices rise in February

House prices rise in February

Category: Mortgages

Updated: 06/03/2013
First Published: 06/03/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The average price of a home in the UK rose monthly by 0.5% during February to £163,600, latest figures from Halifax have revealed.

Between December 2012 and February this year prices rose by 1.9%, the third such increase recorded by the lender and the largest since September 2010.

Levels of activity in the housing market also improved over the three month period, with 83,320 homes sold in January 2013, compared with 82,280 in December 2012. Despite being a rather moderate increase, the figure reflects the seventh consecutive monthly increase in property sales.

Martin Ellis, housing economist at Halifax, said: "We expect to see a national increase in house prices over the course of 2013.

"Weak income growth and continuing below-trend economic growth, however, are likely to remain significant restraints on housing demand."

What next?

Search all mortgages
Mortgage repayment calculator
How much can you borrow calculator

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.

Bank of Mum and Dad holds the (house) key

The Bank of Mum and Dad is an important source of finance for many young adults, and it seems that they still hold the key – in more ways than one.

Fee-free mortgages on the rise

Mortgage rates may be at record lows, but for some people, the extra costs associated can make switching deals a financial impossibility. It’ll come as welcome news, then, that the number of fee-free deals has more than doubled over the past year!
 
Close