HOUSE prices have risen again in September growing at their fastest rate in more than four years new data from Halifax shows.
And the bank says it received more mortgage applications in July, August and September than at any time in the last 12 years.
Russell Galley, managing director at Halifax said: “Across the last three months, we have received more mortgage applications from both first-time buyers and homemovers than anytime since 2008.”
The rush of people applying for mortgages comes after the restrictions on moving during the pandemic were lifted and after the chancellor Rishi Sunak introduced a six month stamp duty holiday .
House prices in September were 7.3% higher than the same month last year, a rate of growth not seen since June 2016.
They were also 1.6% higher than August as the property market continued to bounce back from the impact of coronavirus and monthly house prices jumped 1.6% in July and 1.7% in August.
The average house is now £249,870, an increase of nearly £4,000 on the previous month.