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News - 9 January 2014

UK house prices rose by 7.5% in 2013

Two leading lenders in the house mortgage market have released figures on the house price situation in 2013.

Halifax, the country's largest mortgage lender, said that house prices rose by 7.5% last year, while the Nationwide building society said house prices had risen by 8.4% in 2013.

The Halifax also said that the number of housing transactions last year is likely to have exceeded one million for the first time since 2007.

Both agreed that 2014 would continue to rise at a similar pace to last year.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“The increase in house prices in 2013 was more than three times the rate of CPI inflation, which rose by 2.1% between November 2012 and November 2013. The house-building group Persimmon reported that they built 6,506 new homes in the second half of 2013, 30% more than it did in the first half. Overall during the year it sold 11,528 new homes, a 16% rise on 2012. The government's Help to Buy scheme may have helped that process, but, overall, its great news for the local and national economy.”

If you need any help and advice for your business on the implications of central and local Government Funding initiatives and the construction industry, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail:

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