The housing market is showing clear signs of a continuing revival, it has been stated.
Halifax housing economist Martin Ellis said the evidence seems apparent as the lender revealed a 1.2 per cent rise in house prices in October.
He noted that this means property values have risen 2.9 per cent since the end of 2008 and 7.1 per cent since the market reached its lowest point in April.
Mr Ellis suggested that the situation may prompt more people to put their homes on the market, as they see the situation and are encouraged that conditions are improving.
Such a development could also help stimulate more construction work.
The Halifax figures put the average UK house price now at £165,528.
Other house price surveys have also indicated that property values are still on the up, with Nationwide being one example last week.
However, that lender recorded a smaller increase, rising 0.4 per cent.
