Restricted supply and high employment, rather than improved demand, are credited with the increase in prices Yui Mok / PAThe average price of a house has hit a record of just over £225,000 after a pick-up in the annual rate of growth, according to Britain’s biggest mortgage lender. Halifax said that the annual rate of house price growth had risen from 2.6 per cent in August to 4 per per cent in September, its highest since February. House prices in the three months to the end of last month were 1.4 per cent higher than in the previous quarter, which again was the fastest price growth on this measure since February. The average price of £225,109 last month was a 0.8 per cent increase on the £223,271 recorded in August and up 4 per cent on the £214,879 average this time last year.

Source: The Times October 06, 2017 11:03 UTC