Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

UK House prices rose 3.4% in the three months to the end of November, the highest price increase since 2006, and 8.2% higher than a year ago, the Halifax reports. The average UK property price hit a fresh record high of £272,992 in November, the UK’s largest mortgage lender said. But added that the pace of growth was unlikely to continue next year as household finances come under pressure. Property shortage and low interest rates drives demand House prices in the UK have still been going up for the past five months, despite the end of the stamp duty holiday and the massive activity in the first six months of 2021. The unexpected growth was "underpinned by a shortage of available properties, a strong labour market and keen competition amongst mortgage providers keeping rates close to historic lows," said Russell Galley, managing director of the Halifax. The figures are based on the lender’s own data and represent an average across all residential property types in the UK. Figures will vary in some areas and pr