How property rose 53% from the depths of despair: Average house price up more than £82,000 since the lows of the financial crisis a decade ago
House prices in Britain have risen by more than 50 per cent over a decade
House prices in Britain have risen by more than 50 per cent since the depths of the financial crisis a decade ago.
The value of a typical home was £236,619 last month, says mortgage lender Halifax.
It means prices have risen by £81,956, or 53 per cent, since a post-crisis low of £154,663 in 2009.
Prices had peaked at £199,612 in August 2007 before the crisis struck.
The recovery since then appeared to have run out of steam as families worried about political turmoil over Brexit baulked at prices. But prices were up 5 per cent in the 12 months to April, the fastest rise for two years.
The report came as a survey by the Royal Institution of Chartered Surveyors found sellers are more realistic when they set a price.
For homes up to £500,000, 62 per cent of surveyors said prices being paid by buyers were in line with sellers’ asking prices, up from 57 per cent in October.
A separate report from website Rightmove said 28 per cent of homes for sale have been listed for more than six months, down from 40 per cent in 2012.