House prices on upward trajectory. House prices, up up up.


House prices continued their upward ascent with a five consecutive month of growth, according to the Halifax house price index.

A 0.6 per cent June rise propelled the second quarter of the year up 2.1 per cent higher than the first three months of 2013.

That leaves prices 3.7 per cent higher in the three months prior to June than they were at the same point last year.

Martin Ellis, Halifax housing economist, said that the rises are continuing at a “steady” rate.

“Activity has also improved in recent months. Both home sales and mortgage approvals for house purchase – a leading indicator of sales – increased in May.”

Giles Hannah, managing director of London agency VanHan, said: “The annual growth in house prices is at its highest in nearly three years, clear evidence that the market continues its steady improvement.”