Halifax shows 4% rise in house prices for 2019

Halifax shows 4% rise in house prices for 2019

UK house prices rose 4% in 2019, according to Halifax, as a December bounce saw the average property's value jump 1.2%, or £4,000 – the largest monthly rise since February 2007. The Halifax index, based on the lender’s own mortgage approvals, showed the average house price climbed £9,136 last year to £238,963, but the bank said that it only expected “modest” rises in the year ahead. Halifax managing director Russell Galley said: “Looking ahead, longer-term issues such as the shortage of homes for sale and low levels of house-building will continue to limit supply, while the ongoing challenges faced by prospective buyers in raising deposits will serve to constrain demand.” The bank has forecast gains of 1 to 3% for house prices in 2020.

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