Bristol property prices up this year?

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The value of Bristol property may have risen during the first month of this year.

 

New figures produced by Halifax suggest that house prices across the UK as a whole went up by 0.6 per cent in January.

 

This was the seventh month in a row when an increase was recorded, the firm noted and it meant the typical residence was worth £169,777.

 

According to Halifax, which is a division of the Bank of Scotland, the reduction in interest rates seen over the last 15 months has boosted demand for property.

 

Meanwhile, the low supply of houses and flats has also contributed to rises in prices.

 

However, a possible increase in the number of properties for sale over the coming months may curb upwards pressure on values, Halifax suggested.

 

Its chief economist Martin Ellis remarked: "Overall, our current view is that house prices will be flat during 2010."

 

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