View more on these topics

FTB house price average tops £100k for first time

House prices continued to flourish in January, increasing by 2.2 per cent compared with 2 per cent in December, according to Halifax&#39s monthly house price index.

The average house cost was £145,610 in January compared with £142,408 in Dec-ember while the average price paid by a first-time buyer passed £100,000 for the first time at £101,719. A year ago, a first-time buyer would have paid an average of £82,968.

Key workers such as nurses, teachers and police officers are facing the same problem as first-time buyers. Nurses and firefighters are worst off, with the average house price now almost six times the average salary for both occupations.

Halifax says the low stock of secondhand homes for sale has contributed to the continuing strong upward pressure on house prices. It expects the economy to grow more rap-idly in 2004 than in the past three years, which it says should stimulate further increases in employment, so und-erpinning the most fundamental pillar supporting the housing market.

General manager (group economics) Shane O&#39Riordain says: “On an annual basis, prices are up by 16 per cent. A strengthening economy should continue to support a strong labour market during 2004, underpinning housing demand.”

Recommended

Pension credit phone line staff receiving just 7 calls a day – Lib Dems

Call centre staff at the Government&#39s pension credit application phone line have been receiving an average of just 7 calls a day, according to the Liberal Democrats. The figures show that in December, the application line received 193,900 application calls, 8,430 a day. This means that of the 1,300 workers there, the average member of […]

Positive start for property prices

Halifax saw the most positive movement in house prices in January, with its index showing a 2.2 per cent increase over the month, up from a 2 per cent rise in December. Halifax puts the average house price in January at £145,610, and says annual house price inflation stands at 16 per cent. General manager, […]

1

Home condition report gets strong backing from buyers and sellers

Consumer trials of the home condition report have shown strong support among buyers and sellers. The trials, carried out by the Building Research Establishment, show that 95 per cent of buyers find the HCR useful and 88 per cent of buyers and 78 per cent of sellers believe the HCR accurately reflected the condition of […]

Balancing the scales of risk

Operating in an increasingly regulated climate has already put many burdens on adviser firms, not least with the rise in associated costs. Mitigating the risks within a business can help reduce the worries of regulation but, ultimately, the solution must lie with reducing the risks associated with providing advice. We put this theory to the […]

Who cares?

By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment