06 Feb House prices shoot up 7.3% in a year
The value of the average property – which has increased by 1.1 per cent in the last month alone – now stands at £175,546, according to Halifax.
The steady increase in house prices comes as the Government’s Help to Buy scheme has fuelled demand by allowing those with small deposits to join the property ladder.
Under the programme, the state will back loans made to buy homes worth up to £600,000 with just a 5 per cent deposit.
Source: Daily Mail website, accessed 06/02/2014