Halifax: House prices climb again in December

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Halifax: House prices climb again in December

House prices in the UK have risen again after three successive months of falls, according to the Halifax House Price Index.

The figures indicate that the average price of a house in the country currently stands at £197,039. Over the course of 2007, prices rose by £11,759.

During December, property prices experienced a 1.3 per cent rise, the Halifax House Price Index reveals. This also reflects an annual increase of 5.2 per cent.

Chief economist of Halifax Martin Ellis said that although house prices slowed in the final quarter of 2007, the trend will not necessarily last.

"South economic fundamentals and lower interest rates will support house prices in 2008," he remarked.

The UK economy is likely to grow for the 65th consecutive quarter, he added, which would be the "longest running period of unbroken growth on record".

In December, Halifax introduced what it claimed were some of its most competitive mortgage deals yet.
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