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House prices continue to rise according to Halifax

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Last Updated: 18/01/2016 18:01:33   Tags: House Prices Continue To Rise According To Halifax

The property market experienced a last minute boost in the last quarter of 2015 – prices were 9.5% higher than in the same period than the year before. According to the Halifax price index, the average price of a UK home stands at £208,286.

Martin Ellis from the Halifax stated: "There remains a substantial gap between demand and supply with the latest figures showing a further decline in the number of properties available for sale. This situation is unlikely to change significantly in the short-term, resulting in continuing upward pressure on prices” says Halifax housing economist Martin Ellis.

As homes become less affordable for first time buyers, the house price to earning ratio rose to 5.58 in December, this figure stood at 5.49 in November, the highest figure since January 2008.

If you are looking at selling your property this is a great time of year to put it onto the market, it’s one of the busiest times of year for buyers looking on-line. Over the Christmas period, the property portal Rightmove reported a 22% rise in page views, with over 31 million page views on Boxing Day – rising to 44 million on Decemeber 30.

If you would like to get an idea of how much your property is worth why not get in touch with your local branch of Hawes and Co or give our team a call on 0208 946100.