Property prices in the UK continued to rise last month, according to a new report.
Figures from the latest House Price Index from banking firm the Halifax, have revealed that house prices increased by 0.6 per cent last month.
The figure represents an annual growth of 3.6 per cent and sees the average house price rise to £169,777.
This could come as welcome news to a number of people looking into equity release schemes as a way of boosting their income.
Such schemes can provide cash by releasing some of the funds tied up in a homeowner’s property assets.
Commenting on the rise in prices, Martin Ellis, Halifax housing economist, said: "This was the seventh successive monthly increase and takes the average price to 9.9 per cent above its trough in April 2009."
"Increased demand has combined with a low supply of properties available for sale to push up prices."
