From This is Money:
House prices are now up £6,000 from the low of £154,490 in April, and are now broadly similar to August 2004.
Halifax said the three-month average, a less volatile figure than monthly figures, was now up 1.7%.
The annual decline in prices has moderated sharply from a peak of 17.7% in April. Prices are down 19.5% on the August 2007 peak of £199,612.
He said: ‘Demand for housing has increased since the start of the year due to better affordability and low interest rates. This, together with low levels of property available for sale, has boosted house prices over the last few months.’
But Halifax highlighted that Bank of England mortgage figures showing 50,000 approvals for homebuyers in July were 55% lower than the level seen in July 2007.
David Smith, senior partner at UK property consultancy, Carter Jonas, said: ‘Although transactions are rising and interest in the property market is up, the stabilisation in prices we are seeing sti…
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