Halifax reports house prices rising

House prices rose by 0.8% in August compared with July – the second monthly rise in a row, says the Halifax.
>However, property values were still10.1% lower in the three months to August compared with the same period a year ago, the survey found.

A lack of supply and greater demand for homes has pushed up prices in recent times, various surveys suggest.

“Demand for housing has increased since the start of the year due to better affordability and low interest rates,” said Halifax housing economist Martin Ellis.

The survey showed that the monthly change in prices had been upwards in four of the first eight months of 2009.

Prices in the three months to August compared with the previous three months were 1.7% higher, the biggest rise since July 2007.