Sunny

Sunny

max temp: 9°C

min temp: 2°C

ESTD 1874 Search

National: House prices surge again in 2014

09:41 06 March 2014

New Homes

New Homes

Archant

Growing confidence boosts the housing market

shares

House prices surged at their strongest annual rate since 2007 in February amid improving consumer confidence and continued access to cheap mortgage deals, the Halifax has reported.

Values lifted by 7.9% on a year ago, taking the average price across the UK to £179,872 and marking the strongest annual uplift since October 2007.

The pace of the annual rise has strengthened from 7.3% in January.

Prices were 2.4% higher than a month earlier, which the Halifax said is in line with recent average monthly increases.

Stephen Noakes, mortgages director for Halifax, said the improving economy, falling unemployment, growing consumer confidence and continued low interest rates all appear to be boosting housing market demand.

Some experts have raised concerns that Government schemes such as Help to Buy are pushing house prices further out of some people’s reach by fuelling strong demand in the market without the supply of properties for sale keeping up.

But Mr Noakes said there are factors which should help to keep a lid on house prices.

He said: “Continuing pressures on household finances, as earnings fail to keep pace with consumer price inflation, are expected to remain a constraint on the rate of growth of house prices.

“We are also seeing signs of a revival in housebuilding, which should help bring supply and demand into better balance and curb upward pressure on prices over the medium and longer terms.”

shares

0 comments

View over Sudbury showing the area that could be used for the bypass

A bypass is the “key to prosperity in Sudbury”, it has been claimed, but so far the route has not been included in an official blueprint mapping out the future of the area over the next 20 years.

Stock image: emergency services at the scene of a fire

Firefighters tackled a blaze at a residential caravan in west Suffolk last night.

Christine Taylor and her grandson William Taylor and her partner Philip Wall - all victims of a crash on the A14 at Trimley.

A car passenger has died after never recovering from injuries suffered in a crash which killed two other people – two and-a-half years ago.

Police officer. Library image.

Exclusive: Last year officers at Essex Police took more than 11,000 sick days for stress, anxiety or depression – more than double the figure five years ago.

Man admits sexual assault

Police have expressed their relief that a woman who was sexually assaulted in her own home will not need to re-live her experiences during a trial, as her attacker admitted to the crime.

Police road closure.

A van driver has been rushed to Addenbrooke’s Hospital in a life-threatening condition after a crash near Higham.

Traffic. Library image.

The A12 northbound has reopened at Witham after a six vehicle crash.

Colchester United v Notts County FC.
Sky Bet League One.
Kayleigh Osborne in action for Col U.

Colchester United 0 Notts County 1

Halstead sign

A man suffered a serious injury to his groin after being held in a headlock by one man and kicked up to 20 times by his companion, it has been alleged.

Suffolk’s Year of Cycling launch event at the Apex, Bury St Edmunds. No names.

‘Get on your bike and get riding’ was the message sent out to the people of Suffolk at today’s launch of the county’s Year of Cycling.

Most read

Most commented

Topic pages