UK house prices ‘rising steadily’, report shows

<p>House prices in the UK continue to increase.</p>

House prices in the UK are still rising, providing a further boost to the economy.

After data showed the manufacturing, services and construction sectors are all performing well, research carried out by Halifax has shown house prices in the three months to June were 2.1 per cent higher than in the previous quarter.

Commenting on the company's latest house prices index, housing economist Martin Ellis stated that this is marginally above the one to two per cent range recorded throughout the first five months of the year.

He said: "The annual rate is at its highest for nearly three years with prices in the three months to June 3.7 per cent higher than in the same three months last year."

Mr Ellis noted activity is on the rise as well, perhaps indicating that the economic recovery in the UK is starting to gather pace.

House prices in the US are also rising, with the latest Standard & Poor's-Case Shiller index across the Atlantic showing a rise of more than 12 per cent in the cost of single-family home prices across 20 cities in April.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.