Annual house price rise rate increases in March

The rate of annual house price growth is continuing to rise, according to the Halifax – the biggest mortgage lender in the UK.

House prices in March rose by 1%, taking the annual rate of house price growth to around 11%. London has seen some of the largest increases, where house prices have gone up by 14.3%.

The Halifax claimed that there were “emerging signs” that house price growth may ease later this year. Economist for the Halifax Group Tim Crawford said: “We expect the recent rises in interest rates, negative real earnings growth and above inflation council tax bills to lead to slower house price growth over the coming months.”

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