Property News in the UK

UK property news and links to various property websites. mortgage news, house price news, interesting properties for sale.

Monday, March 12, 2007

Shortage pushes homes up £3,500

A continuing shortage of homes for sale in high-cost areas helped push house prices up by more than £3,500 in February.

The lack of properties available for househunters, especially in London and the South East, has made market conditions the tightest in two years, according to Halifax - driving up the price of both family homes and first-time buyer properties.

Britain's biggest mortgage lender said that the cost of the average home leapt by 1.8% in February to reach £192,233, with the annual increase in prices remaining at 9.9%.

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