House prices rise at the fastest pace in 15 years

House prices have recorded their biggest three-monthly growth since the property boom before the financial crisis, according to the Halifax, with the typical UK home now worth almost £273,000. The cost of a home increased by 3.4% on a rolling quarterly basis in November, according to the building society’s house price index, which was the strongest quarterly growth figure since late 2006. Between October and November alone, the cost of a home increased by 1% or around £2,700. Since the onset of the pandemic in March 2020, and the UK first entering lockdown, house prices have risen by £33,816, which equates to £1,691 per month, Halifax said. House prices have increased by 8.2% or more than £20,000 since this time last year, as the hot housing market that started in summer 2020 refuses to cool. Halifax said the continued rise in house prices had been underpinned by a shortage of available properties on the market, which had increased demand for those that were available. 

Daily Mail (07/12/2021)