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
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