UK house prices see 10.2% annual rise, says the Halifax
Published on 6 august 2014The lender said that property prices grew by 3.6% in the three months to the end of July compared with the previous quarter.
The monthly increase was 1.4% compared with June, making the average home worth £186,332.
The figures are at odds with other surveys which suggest a slowdown.
'Upward trend'
This is the first time since September 2007 that the annual change has gone above 10%, according to the Halifax. It accelerated from an 8.8% rise in June.
The numbers, based on its own mortgage lending, counter the view put forward by rival lender Nationwide, which said prices had started to moderate.
The Nationwide's estimate of the annual house price rise slowed from 11.8% in June to 10.6% in July.
The year-on-year comparison is calculated slightly differently by the two lenders. The Halifax compares the previous three months with the same three months a year earlier to give a smoother comparison, rather than a direct comparison of the equivalent months as calculated by the Nationwide.
The Land Registry has also suggested that seven out of 10 regions of England and Wales showed a monthly fall in prices, although these short-term price changes are often volatile.
Source: BBC News
Photo source: Wikia, Levents.org
