Halifax survey finds house prices on the rise despite increase in interest rates
House prices grew at their fastest rate in four months, according to the latest survey by Halifax. HBOS’s Halifax house price survey showed them rising by as much as 1.8% in February compared to 1.4% the previous month. This is despite the Bank of England raising interest rates three times since August 2006.
The survey found that this has been the biggest monthly rise since October 2006. The report said the three-month annual rate of house price inflation had been steady at 9.9% for the third month running.