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Property market 'benefiting from labour market improvements'

Property market 'benefiting from labour market improvements'

The UK's property sector is benefiting from improvements in the country's jobs market, it has been suggested.

According to housing economist at Halifax Martin Ellis, increasing business confidence has boosted real estate.

He stated: "The recent improvement in the labour market, highlighted by rising numbers of people in employment in both September and October, has ... supported housing demand."

The expert's comment follow the release of the latest Halifax House Price Index, which revealed that there was a monthly rise in the price of houses and flats of one per cent in December compared with the previous month.

In the UK at present, the average property value stands at £169,042, the firm noted.

People seeking to buy a home in the UK this year may be buoyed by remarks made recently by chief operating officer at Alexander Hall Andy Pratt, who suggested that mortgage lenders will be offering good deals.