No indications of a potential house price bubble are apparent in spite of substantial increases this year, mortgage lending giant Halifax has said. No doubt this will make it more accessible for those seeking to buy a home, meaning more loft conversions in the Wirral, Chester and other area of the country can continue to occur.

Halifax has made the prediction for next year that costs will keep increasing at a largely familiar pace to that of the last 12 months – from 4% to 8%. It said that London and South East England would not have the monopoly on price rises but that all areas will increase, which will dismiss the idea of a price bubble.

Halifax said that some of the Help to Buy critics have inflated the initiative’s probable effect on house costs. It said that the scheme will lead to an increased housing demand next year by helping buyers previously unable to make a deposit, although it should not lead to unsustainable price increases.

Halifax Housing Economist, Martin Ellis, said:

“There is little sign of the excessive behaviour associated with a house price bubble at present.

“There has been no evidence of acceleration in house prices over the past six months with prices rising at a quarterly rate of around 2pc consistently throughout this period.”

Halifax said that a number of factors will likely limit the rise of house costs, which include economic conditions with household incomes failing to keep up with inflation.