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.

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