Signs of recovery for house prices showing signs of 1/27point
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Mounting evidence of a recovery in the housing market gained fresh impetus yesterday after figures from Halifax Building Society showed prices rose by 1.2 per cent in March, the biggest monthly gain in two years.
The rise, the eighth consecutive month in which prices have gone up, means the cost of a home is 1.7 per cent higher than a year ago, despite the collapse throughout much of last year. The society said yesterday: "We are continuing to forecast a rise of 2 per cent for the year as a whole, but clearly this will be reviewed if the pattern of recent months is sustained," the society added.
Gary Marsh, head of corporate affairs at the Halifax, warned, however, that there appeared to be a change in the seasonal pattern of house prices since the Budget was moved from March to November in 1993. Before that, house prices tended to rise from the end of March, but now prices appeared to increase much earlier, only to peter out as the year progressed.
The Halifax survey differed from that of Nationwide Building Society, which last week said prices were flat in March.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments