House prices rose by 7.5% in 2013

10th January 2014

House prices across the UK rose by 7.5% last year, according to the Halifax.

However, it also revealed that prices actually fell by 0.6% in December, taking the average price of a property to £173,467. Looking ahead, Halifax predicted that prices in 2014 would continue to rise at a similar pace to last year. "This will increase the likelihood that more people will consider buying a property in 2014, therefore supporting housing demand," Martin Ellis Halifax’s chief economist comments. The lender also said that the number of housing transactions last year is likely to have exceeded 1m for the first time since 2007.

Source:   The Daily Telegraph