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Last Updated: Friday, 2 December 2005, 08:39 GMT
House price inflation picks up
Browsers
Are prices picking up again?
House price inflation in the UK is rising, according to the latest survey from the Halifax.

The country's biggest mortgage lender says prices in November were 4.5% higher than a year previously, thanks to a rise of 1.2% last month alone.

The annual rate of inflation has now gone up for the fourth month in a row, and leaves the average house in the UK now costing 170,086.

However, the Halifax said prices were not about to start shooting up again.

Martin Ellis, the lender's chief economist, said: "The slowdown in UK economic growth over the past year and the historically high level of house prices relative to average earnings are, however, expected to curb the recent improvement in housing demand and prevent another sustained period of sharply rising property values."

Earlier this week, the country's biggest building society, the Nationwide, said UK house prices were unchanged in November.

According to its house price index, that brought the annual rate of house price inflation down to 2.4%, from 3.3% in October.

Separately, figures from the Bank of England suggested that the property market was likely to see a continued upturn in activity in the coming months.

It reported that the number of mortgages approved, but not yet lent, for people buying new homes rose to 113,000.

That was the highest number for 18 months.


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