House price growth remains steady

House price growth remains steady

New data extracted from the latest Halifax house price index has found that during Q4 in 2015, the price of an average house in the UK was 1.6% higher than in the preceding three months, and 9.5% higher than in the same three months a year earlier.

This keeps the annual rate in the 8-10% range where it was for nearly all of 2015.

Newham in London recorded the biggest rise in house prices among major UK towns and cities over the past year, according to separate Halifax research. The average house price in the London borough was 22% higher than in the previous year; nearly double the 12% increase in London as a whole. Those areas that have seen the biggest house price increases over the past year are either in outer London or within close commuting distance of the capital.


Martin Ellis, Halifax housing economist, said: "House prices in the three months to December were 1.6% higher than in the previous three months. This was the second successive month that this measure has been below 2.0%, indicating a possible slight softening in the underlying rate of price growth.

There remains, however, 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.”

Mark Posniak, Managing Director of Dragonfly Property Finance, commented: "With supply as weak as demand is strong, it's same old, same old on the house price front.
 
Prices continue to rise, if at a slightly steadier rate over the quarter. The 1.7% rise in December drives home the extent of demand. In the current environment, seasonal trends are arguably becoming less significant.
 
Looking into 2016, it's hard to see anything other than a continuation of the current trend of steadily rising prices, especially with interest rate rises in the near future unlikely. The jobs market is strong, consumers are confident and mortgage rates remain very low. Against this backdrop, further price rises are almost inevitable."

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Spencer Fortag
Spencer Fortag 25 Aug 2016

The funny thing is, I mentioned the brick issue in my blog back in April: http://medwayproperty.blogspot.co.uk/2016/04/the-medway-property-market-and-lack-of.html

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SecomTech
SecomTech 19 Aug 2016

Firstly, I either lodge with DPS or do not take a deposit...secondly, If a tenant has not received a confirmation their deposit is secured with either a scheme or in an insured account with an agent/landlord,...

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jasonevans
jasonevans 19 Aug 2016

Belvoir has over 15 years of experience in property lettings, buying and renting and is one of the best agencies I know about. I have heard that they revived an award for the hard work. Really amazing...

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jasonevans
jasonevans 19 Aug 2016

Usually these areas are least affected when it comes to unexpected economical collapse.

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TheWaspNestRemover
TheWaspNestRemover 11 Aug 2016

You agree to pay for the treatment needed to get rid of fleas, ants, mice, wasps nests and other pests unless you can prove that these are a result of us not meeting our repairing responsibilities or these...

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madisonwelch80
madisonwelch80 02 Aug 2016

16% is quite a raise. Let's hope this tendency won't continue for long.

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madisonwelch80
madisonwelch80 02 Aug 2016

?66,963 is a serious price drop However buying a property it a serious investment only small percentage of the UK population could afford.

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madisonwelch80
madisonwelch80 02 Aug 2016

Wow, it kind of surprised me. I mean counting on mom and dad's bank even after retirement is too much. That's the moment in life when one should have ensured themselves. I am shocked.

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AbbieP.
AbbieP. 22 Jul 2016

"While house prices in the most expensive eleven boroughs have declined values in the cheapest eleven boroughs continue to rise" - not a nice way to even out the price range. London is overrated as it

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AbbieP.
AbbieP. 21 Jul 2016

And try to profit from your decisions, I may add

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CommercialTrust
CommercialTrust 19 Jul 2016

Retirement investment has always been one of the biggest draws of buy to let. And the buy-to-let demographic is, on balance, older. (Over a third of our applicants are over 50 at the time of application.) It...

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Forrest Wheatey
Forrest Wheatey 11 Jul 2016

I find the time perfect for ever home-owner wannabe. Prices should slowly, but steadily drop, at least for the inner buyer. Making it harder for outsiders to buy properties (the whole Brexit thing means...

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