Mortgages: biggest house price jump in almost seven years
11 June 2009
The latest figures from major mortgage lender Halifax have shown the biggest monthly jump in house prices for almost seven years.
According to Halifax, average house prices rose by 2.6% in May to £158,565.
However, Halifax warned that the rise did not indicate market recovery. It follows three successive monthly falls in house prices, and results in a 16.3% annual fall.
A mortgage expert for Think Money said: "There have been some signs that lenders are becoming more confident about offering mortgages, and this could have had a positive effect on house prices - although we will have to wait to see the full picture.
"In the meantime, anyone looking to buy a home should seek mortgage advice from an expert. The market is still more troubled than it has been in previous years, and the right advice could help people find the right mortgage deal."
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Tags: mortgage, house prices, Halifax
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