Surprise rise in property prices in October
Tuesday 08 November 2011
House prices rose by 1.2 per cent last month, according to the mortgage lender Halifax. The performance means the average property price of £163,311 is marginally higher than at the end of last year.
Halifax's housing economist Martin Ellis said the prospect of low Bank of England interest rates was supporting the property market.
The latest survey by the Royal Institution of Chartered Surveyors, published today, also recorded a rise in activity in October, although prices dipped.
However, Howard Archer, chief UK economist at IHS Global Insight, said the surprise jump in Halifax's index did "little to change our view that house prices are headed down ... and are likely to fall by 5 per cent by mid-2012".
Life & Style blogs
Obama: The only people with the right to object to immigration are Native Americans
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
Ukip mocked after mistaking Westminster Cathedral – for a mosque
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
David Cameron sets out immigration reforms: We should distrust Ukip and their 'snake-oil of simple solutions'
- 1 Jennifer Lawrence scores first UK top 40 single with Hunger Games track 'The Hanging Tree'
- 2 Shia LaBeouf claims he was raped during #IAMSORRY art installation performance
- 4 Scientists predict green energy revolution after incredible new graphene discoveries
£40k - 45k per year + Benefits: Opilio Recruitment: A fantastic opportunity ...
£30k - 35k per year + Benefits: Opilio Recruitment: We’re currently re...
£35k - 45k per year + benefits: Opilio Recruitment: A fantastic opportunity ...
£60k - 80k per year + Benefits: Opilio Recruitment: A fantastic opportunity ...