House prices are on the increase says Halifax

Winston Solicitors Leeds conveyancing department has welcomed figures from one of the country’s biggest mortgage lenders, showing that house prices have risen faster than at any time over the past three years.

The Halifax said that house prices in the three months to the end of June were up 3.7% on the same period last year, the highest increase since August 2010. Following on from a 1.9% annual increase reported by the Nationwide last week, Winston Solicitors says it is compelling evidence that the property market is, at last, moving in the right direction.

Jackie Smyth, conveyancer at Winston Solicitors said: “The office has been busy with plenty of enquiries. House sales and purchases are coming in for all prices ranges, top to bottom, and the signs are encouraging that this is the beginning of a more lasting improvement as the economy emerges from recession. We are showing an increase of instructions on last year’s figures in the region of 35%.”

She added that government initiatives which include the Funding for Lending and the Help to Buy equity loan schemes have helped stimulate demand.

The Halifax survey said that the average price of a home in the UK now stands at £167,984, a rise of over £8,000 in a matter of months.

For a competitive local quote from our Leeds based conveyancing team, please contact Jackie Smyth on 0113 320 5000 or email @email