House prices rise £82,000 since crisis

House prices in Britain have risen by more than 50pc since the depths of the financial crisis a decade ago.

The value of a typical home was £236,619 last month, says mortgage lender Halifax. It means prices have risen by £81,956, or 53pc, since a post-crisis low of £154,663 in 2009.

Prices had peaked at £199,612 in August 2007 before the crisis struck.

The recovery since then appeared to have run out of steam as families worried about political turmoil over Brexit baulked at prices. But prices were up 5pc in the 12 months to April, the fastest rise for two years.

The report came as a survey by the Royal Institution of Chartered surveyors found sellers are more realistic when they set a price.

For homes up to £500,000, 62pc of surveyors said prices being paid by buyers were in line with sellers’ asking prices, up from 57pc in october.

A separate report from website Rightmove said 28pc of homes for sale have been listed for more than six months, down from 40pc in 2012.