Islamic mortgages could make city living a possibility

Mon, 03 Oct 2011
Islamic mortgages could be one way in which people who wish to live in one of the UK's major cities are able to do so.

New research from Halifax has revealed the amount required in order to reside in such a metropolis has increased to the highest level ever recorded.

According to the figures, house prices in the UK's urban centres are seven per cent - or £14,462 - greater than the county average.

Indeed, 56 per cent of cities have a higher typical property cost than this amount.

Suren Thiru, housing economist at Halifax - which is a division of Bank of Scotland - said: "City house prices are generally supported by demand from those looking to gain from the economic and lifestyle benefits often associated with residing in major urban areas."

The industry figure added these costs are also assisted by the pressures on housing supply to be often found in such locations.
Salaam-u-Allaikum
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