Halifax have released data showing that house prices in the three months to the end of 2015 were 9.5% higher than in that same three month period in 2014.
This suggests that the average price of a UK home is now around the £208,286 mark.
Halifax housing economist, Martin Ellis says “There remains a substantial gap between demand and supply with the latest figures showing a further decline in the number of properties available for sale. This situation is unlikely to change significantly in the short-term, resulting in continuing upward pressure on prices”.
It has also been noted that home are becoming less affordable, as the ratio between house prices to earnings increased to 5.58 in December from 5.49 in, making the highest level since January 2008.