House prices increased by 5.2 %

House prices increased by 5.2 per cent in the UK according to a survey in the three months to October 2016, by Halifax leading mortgage lender.

Prices increased by 1.4 per cent in October 2016, compared to 0.3 per cent in September 2016. According to Halifax, the house price growth may ease further in the near future coming months to Christmas due to low mortgage rates and a shortage of properties available.

In recent months home sales have broadly slowed down, following an increase in stamp duty on second homes and buy to let purchases.