UK house prices 'rose 9.5%' in 2015

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UK house prices rose by 9.5% in 2015, coinciding to the lender Halifax, making it the fastest annual increase in nine years.

In the newest month, prices went up by 1.7%, said the Halifax, bringing the normal price of a home to £208,286.

However, other lenders, such as the Nationwide come up to scratch, put the rate of increase much lower.

Last month, it said quotations rose by 4.5% in 2015, less than half the Halifax belief.

Halifax’s housing economist, Martin Ellis, said one reason for the alertly increase was the continuing shortage of property for sale.

“This situation is implausible to change significantly in the short term, resulting in continuing upward compression on prices,” he said.

The last time UK house prices rose so right away was in 2006, when values soared by 9.9%.

The 9.5% increase in 2015 was way forwards of experts’ predictions a year ago.

Martin Ellis himself predicted that evaluates would rise by between 3% and 5%, while most contemplated a figure around 4%.

Newham, in East London, was the town with the heaviest increase in 2015. Prices there rose by 22% in 2015, com red to 12% for London as a sound.

The different methodology of the most popular house price measures is explicated here.

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