Housing market remains buoyant as prices rise

Housing market remains buoyant as prices rise

Despite the predictions of many that house prices may fall in the wake of Brexit, the market has proved its resilience and quietened the naysayers.

The latest Halifax House Price Index has revealed that property prices were up 6.5% in the last quarter of 2016, compared to the same period in 2015.

House prices also increased by 2.5% compared to the preceding quarter, with the average house price now at £222,484.
In fact, the step up between November and December was 1.7%, smashing the estimated monthly growth of 0.3% predicted by leading economists.

The increase in property values, despite the economic uncertainty caused by the EU Referendum, is attributed to a national shortage of houses for sale and historically low interest rates.

For those looking to buy property; from first time buyers to savvy investors bagging a bargain at the auction house, this news is a great boost, providing confidence in the value of  UK property and testifying to the robust nature of the housing market.


Some had forecasted that house prices could drop by as much as 18% if the nation voted to leave the EU in 2016 but these latest figures firmly refute such negative warnings.

Although there is still a long road ahead in terms of Britain’s exit from the EU, and some still predict a softening of the market in 2017, these figures give us a very positive indication that we won’t see a sudden or dramatic decline.

It’s a great note to start the year on, and let’s hope there’s plenty more good news as 2017 progresses.

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Latest Comments

warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

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Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

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Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

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MH
MH 13 Apr 2017

You are right that the bank holidays are going to be spoiled in looking for the properties. But people who want to sell their property and looking for the better relocation, they can get benefits of this...

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bnellyb
bnellyb 08 Apr 2017

There will be an exodus of private landlords over the next 5 years as tax changes take effect, private landlords provide an important service to the rental market, why do housing associations and councils...

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Fred Cassman
Fred Cassman 07 Apr 2017

"Make it look like you are at home": often people forget this and share on facebook their location!

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jared townsend
jared townsend 05 Apr 2017

It'll be interesting to see how & if the Government's asset sale regarding mortgages helps

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SecomTech
SecomTech 04 Apr 2017

...and not one mention of the rules on PERMITTED DEVELOPMENT!!! Unless you have studied the plans you will not know...It's probable a high proportion would not need planning permission...BUILDING Control...

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Jonathan
Jonathan 03 Apr 2017

That's a very interesting study indeed. There is no doubt that new services and web apps such as Wonego.com in the UK or Roomster in the US will change the way people look for a flatmate, and that tenants...

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MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

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NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

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