Property Values On The Up Despite Interest Increases

Date Published 13 August 2007

House prices jumped 12.1 per cent in the year to June, the biggest annual increase since March 2005.

According to the Department for Communities and Local Government, house price growth doubled in June, with prices jumping by 1.6 per cent.

The South East also saw double digit gains of 10.7 per cent, while growth was running at 9.6 per cent in both the East and Yorkshire and the Humber.

The stronger than expected figures contrast with other indexes which had shown the housing market was slowing down in response to higher interest rates.