Halifax records highest monthly house price rise in years
House prices showed their highest monthly rise for seven years in May, according to Halifax.
The financial services provider's latest property survey indicated that the average cost of housing in the UK ballooned 2.6 per cent on April's figure to stand at £158,565.
It could be used as further evidence by tenants to show why living in flats to rent in Barking and Dagenham or other parts of London is a suitable option at present.
Halifax said that the monthly house price inflation was around £4,000 - it comes after Nationwide Building Society research also suggested a rise in property values between April and May.
According to Nationwide, which released its data last Friday, there was a 1.2 per cent increase in costs and the average price in May was just over £154,000.
Both building societies indicated that it was too early to say if the property market was on the road to recovery.
Written by Ben Carter
Published 4th June, 2009
© 2009 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
Brixton to benefit from £75m regeneration
An estate in Brixton is to be improved thanks to a £75 million development project.
Read Article ... Published on 16th May, 2012
Olympic concerts to be held at Hyde Park
A series of Olympic-themed concerts are to be held at Hyde Park.
Read Article ... Published on 15th May, 2012
New house price research has been published by Halifax, showing the cost of property is on the rise.