Halifax: House prices rose in 2007
www.moneynews.co.uk > Housing market > Halifax: House prices rose in 2007
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Halifax: House prices rose in 2007
Mon 21st Jan 2008
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The figures indicate that house prices during the final quarter of the year were 5.2 per cent more than those seen in the last quarter of 2006.
All regions in the UK saw prices increase in 2007, according to Halifax, with the average price of a home rising by £9,821 to reach £197,071.
Martin Ellis, chief economist at Halifax, said that although the rate of growth was not as high as previous years, there were reasons which suggested a crash in 2008 is unlikely.
"Sound economic fundamentals and lower interest rates will support house prices in 2008," he remarked.
He also commented on the state of gross domestic product growth in the country, which is expected to rise again, "extending the longest-running period of unbroken growth on record".
Previous research by Halifax revealed that 2.5 million people have moved to the south-east from other areas of the UK in the past ten years.
Related News : Housing market |
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Related News : Halifax |
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