Home rates defy expectations to hit record

Home rates defy expectations to hit record

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By Dearbail Jordan
Business pressreporter, BBC News Image source, Getty Images House rates hit a fresh record in June, according to Halifax, regardlessof expectations the increasing expense of living in the UK would moisten require. The homemortgage loanprovider stated the average home cost reached £294,845 in June after increasing by 1.8% – the steepest regularmonthly boost giventhat2007 Halifax stated a absence of offered houses for sale was lifting costs as well as a shift towards individuals purchasing bigger, separated houses. But it anticipates cost development will slow. Halifax stated that the realestate market had, so far, been mainly insulated from the increasing expense of living. “This is partially because, right now, the increase in the expense of living is being felt most by individuals on lower
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