House prices grew to an average of £175,546 in the three months to January compared to the previous year according to Halifax, the UK's biggest mortgage lender (7th Feb).  Prices saw a 1.1% hike in January 2014. Prices are still 12% below the peak of over £199,000 in August 2007.

The UK saw the highest number of homes built since the crash in 2007 figures from the National House Building Council reveal today (31 Jan).  Nearly 134,000 were built in 2013 which was a 28% increase on 2012.  The NHBC says there is "a genuine return to confidence" with every region apart from Wales showing an increase.

The Bank of England has revealed that mortgage approvals were up 20% in 2013 compared with the previous year.   In 2012 there were nearly 613,000 approvals but figures today (30 Jan) show that there were nearly 735,000 approvals in 2013.  A revival in the housing market has caused the increase, helped by low interest rates and the Government's Help to Buy Scheme it is claimed.

Business Secretary Vince Cable today (28 Jan) confirms that the economy is growing at its fastest pace since the financial crisis struck seven years ago.  Both consumers and business leaders have increased confidence in the recovery.  He states:  "There has been a positive change in economic sentiment over the last six months.  A real recovery is taking place."  The Confederation of British Industry, the UK's largest business lobby, says that more companies are seeing increased sales since the crisis began in 2007.

In 2013 the UK economy grew at the fastest rate since 2007 official data will confirm this week (27th Jan).  Economists expect to see a growth of 0.7% in the quarter up to December following growth of 0.8% in the third quarter of 2013. This represents an annual growth of 2.8%.  Last year the UK emerged as the fastest growing economy in Western Europe.

Nationwide has revealed that house prices rose 8.4% on average across the UK with the average home now costing just under £176,000 (3 Jan 2014).  Prices increased across the whole of the UK but London saw the biggest rises.  Nationwide has calculated that prices are still about 5% less than the peak at the end of 2007.

The Government is considering halving the amount people can borrow under its Help to Buy Scheme amid fears that the housing market is booming out of control (24 Dec).  The current amount eligible is £600,000.  The news comes after the Halifax predicted prices will rise 8% on average in 2014 with higher rises for London.

The average price of a property in the UK will rise so much in 2014 that it will be eligible for 3% stamp duty says website Rightmove (Dec 16).  It estimates properties will push the average asking price up 8% dragging the standard British home into the £250,000 to £300,000 when duty triples to 3%. Rightmove says the average price of a home in 2013 jumped by 5.4% to over £241,000

Lending requirements will be tightened to avoid a housing bubble the Governor of the Bank of England has warned (10 Dec). Speaking at the Economic Club New York, Mark Carney said he is concerned about the housing market in the UK over heating but that action would be taken.  The Royal Institute of Chartered Surveyors reports that more surveyors expect prices to rise than at any time in the past 14 years.

Record low interest rates and the Government's Help to Buy initiative have pushed house prices up nearly 8 per cent in a year - ten times the price of average earnings says the Halifax, the country's biggest mortgage lender.