UK house prices rise more than expected in July - HalifaxWednesday 06 August 2014 08.25
British mortgage lender Halifax said today that UK house prices in the three months to July were more than 10% higher than a year earlier after a sharp rise on the month.
Halifax said that house prices rose by 1.4% in July after a 0.4% drop in June to take house prices in the three months to July 10.2% higher than a year ago.
Economists polled by Reuters had expected monthly and annual increases of 0.4% and 9.6% respectively.
"While supply remains low, housing demand continues to be supported by a continuing economic recovery, growth inemployment, improving consumer confidence and low mortgage rates," Halifax said.