Halifax reveals house price rise

Halifax reveals house price riseSigns of recovery in the housing markets have been revealed.

In its latest House Price Index, Halifax reports the average home rose by some 1.1 per cent in price over the course of July, the second increase to have taken place during the past three months.

Furthermore, it is the third hike to be recorded in 2009, as the typical home is now worth £159,623.

However, property prices are still some 12.1 per cent below that recorded last year.

Those looking to take steps to further boost the value of their home may want to consider getting to grips with DIY projects such as fitting new windows or bathrooms.

"Demand for homes has risen, albeit from a very low base, since the start of the year, driven by improvements in affordability and low interest rates," Martin Ellis, housing economist, points out.

Meanwhile, the National Housing Federation recently claimed that despite falling in 2009 and 2010, property prices are to rise for the next few years and by the end of 2014 will stand at £227,800.ADNFCR-2244-ID-19300428-ADNFCR

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