Financial Times confirms UK property price increases
The upward momentum in house prices have been confirmed by the Financial Times House Price Index (FTHPI).
Prices rose by 0.8% in December, which is slightly lower than the 1% growth recorded by Halifax. As the only index which takes into account all residential property transaction in England and Wales, the FTHIP is often considered to be the most reliable measure of growth.
The increase marks the 8th month of consecutive growth for the UK housing market. Overall the index found that prices ended that year up by 2.2%.
November saw a decrease in the number of transactions which took place, one possible reason for this could be sales would not be through in the time for the Stamp Duty holiday, which finished at the end of December.
Average house prices in the UK now stand at £214, 283, according to the FTHPI, which is higher than the figure predicted by Halifax.
Estate Agent Savills recently said that house prices will climb 40% in the next 10 years, based on an average rate of growth of around 3.4% per annum.
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