Dear visitor,
You're reading 1 of your 3 free news articles this quarter
Register with us for free to get unlimited news, dedicated newsletters, and access to 5 exclusive Premium articles designed to help you stay in the know.
Join the UK's leading credit and lending community in less than 60 seconds.
Halifax: UK house prices surge the most since 2004
House prices in Britain rose the most since 2004 in the 12 months to June, Halifax said today (7 July).
Senior Journalist, covering the Credit Strategy and FSE News brands.
Senior Journalist, covering the Credit Strategy and FSE News brands.
The prices leapt by 13% as better-off households defied the cost-of-living crisis affecting most of the country, according to the lender.
The pace of house price growth accelerated from 10.7% in May, Halifax said.
In monthly terms, prices rose by 1.8%, the biggest increase by that measure since 2007, after a 1.2% increase in May from April, the figures showed.
"Property prices so far appear to have been largely insulated from the cost-of-living squeeze," Russell Galley, managing director at Halifax, said.
"This is partly because, right now, the rise in the cost of living is being felt most by people on lower incomes, who are typically less active in buying and selling houses."
By contrast, higher earners were probably able to use coronavirus pandemic savings to fund property purchases, Galley said in a statement.
Stay up-to-date with the latest articles from the Credit Strategy team
ENJOY READING?
Member of
Get the latest industry news
Permission Statement
