House Prices up 0.8%
House prices rose by 0.8% in August, according to the Halifax.This is the 2nd monthly rise in a row that Halifax has reported. However, prices were still 10.1% lower in the 3 months to August compared with the same time last year.
According to the Halifax, better affordability and low interest rates are driving an increased demand for housing, coupled with a lack of supply.
And a note of caution: housing market activity though is still less than half of what it was in 2007.
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