Prices rise 1.8% in February |
Halifax’s house price survey results for February have shown that prices rose by 1.8% on average. This keeps the annual rate at 9.9%, and brings the ‘standardised average house price’ to £192,233.
On a quarterly basis though, the rate of growth has dropped considerably. In the past three months, prices rose by 2.3%, compared to 4.7% in the previous three months.
Demand is dropping relative to the peaks seen in the autumn of 2006, but low supply is “continuing to exert upward pressure on house prices, particularly in London”.
Halifax also note that property tax as a percentage of total tax has risen from 10.4% in 1995 to 12.0% in 2004. This compares with a 5.3% average in the Euro-zone. What do readers think of this? Is it time for a change in Government? Add a comment to air your views.
