UK house prices rose 7.5% in 2013

by Aaron Strutt

Jan 10 2014

House prices across the UK rose by 7.5% last year, according to the latest Halifax House Price Index (HPI).

Halifax bases its monthly HPI on the mortgages it has agreed, although the bank said that house prices actually fell by 0.6% in December. This took the price of an average property in the UK to £173,467.

Commenting on the figures, Martin Ellis, housing economist at Halifax, said: “Mounting signs that the economic recovery is becoming firmly established, together with a predicted decline in unemployment, should further boost consumer confidence over the coming months. This will increase the likelihood that more people will consider buying a property in 2014, therefore supporting housing demand.”