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UK Residential Property Prices Continue To Increase

UK Residential Property Prices Continue To Increase

UK Residential Property Prices Up For Seventh Month In A Row

Residential property prices in the UK have continued to increase for a seventh straight month in August, according to the latest house price index released by mortgage lender Halifax.

The growth in property prices suggest that the government initiative designed to kick start the property market is indeed working, to support the demand from willing first-time and next time residential property buyers, although there are fears that the UK could see another property bubble emerging, because property prices are rising so quickly.

Halifax said that residential property prices increased by 0.4% from July 2013 and were 5.4% higher than 2012, providing the UK residential property market with the biggest annual price increase since June 2010.

In July, residential property prices increased 0.9% from June 2013, and were up 4.6% from July 2012.

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