Halifax house price index increases for August

Date:Thursday 10th September 2009
Author: Max Freedman

Halifax has released its house price index for August which indicated a second successive monthly increase in prices.

However, the report also showed that year-on-year, the price of houses in August is down 10.1 per cent, with the figure standing at £160,973 for the month.

Martin Ellis, housing economist at the bank, claimed that the increase in demand for property was partly down to the low interest rates available at the moment.

He said: "The average UK house price rose by 0.8 per cent in August. This was the second successive monthly increase and the fourth in the first eight months of 2009."

Mr Ellis also noted that the value of houses is very similar now to what it was in December 2008, when it stood at £160,861.

A spokesperson from Smartlandlord.co.uk responded to the index figures by warning that we are "not out of the woods yet" and that landlords need to be cautious.