House prices 'continue to climb'
For the sixth consecutive month, UK property prices have shown signs of growth, new research has revealed.
According to the Halifax House Price Index, during December, prices were one per cent higher than the previous month, demonstrating 1.1 per cent positive growth over the course of the year.
Compared to a low in April 2009, property prices were 9.4 per cent higher, the research noted.
It is believed a recent recovery in the housing market, with more people looking to buy and sell, is driving the rise in house prices, although demand is continuing to outweigh supply.
Traditionally, house prices in the capital are significantly higher than elsewhere in the UK, which may prompt Britons to choose against buying a home.
Instead, they may wish to consider flats to rent in Notting Hill or another part of the city, which could be a more affordable option.
This could particularly be the case after the Daily Mail warned first-time buyers are likely to continue to find it difficult to get on to the property ladder if they do not have a high enough deposit to secure a mortgage.
Written by Ben Carter
Published 7th January, 2010
© 2010 Estates IT Limited
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