House market improvement continues

New research from the Halifax House Price Index has demonstrated the property market continued to improve in January. Property prices in the quarter to January 2013 were 1.9 per cent higher than during the previous three months. It was also shown that house prices were 1.3 per cent higher than in the same time period one year earlier, the first yearly rise for over two years. Housing Economist at Halifax, Martin Ellis commented on that: "The Funding for Lending scheme has helped lenders to lower interest rates and improve availability in the past few months." He went on to add that the rise in sale prices is likely to have been assisted by the scheme.