The boom in UK house prices seems set to continue with prices rising by a record 4.7% in October to ...
The boom in UK house prices seems set to continue with prices rising by a record 4.7% in October to reach a 30.6price increase over the year, according to the latest figures released by the UK's largest mortgage lender, Halifax. Halifax's Chief Economist Martin Ellis attributes the record rise in October to the low level of interest rates and falling unemployment. According to Ellis, affordability remains robust with mortgage repayments representing 15% of gross earnings for a typical new mortgage borrower which is one of the lowest percentages since 1984 and significantly below the ...
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