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

Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

It depends on the people, some older adults decide to make a long-distance move in order to live closer to their children or settle in a place with a lower cost of living.

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brandonlee10
brandonlee10 24 Jul 2017

The financial ramifications of the triggering of Article 50, the starting gun for Britain's departure from the EU, are far from clear. Buyers will be most cautious in London, given that buying a home in...

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IrisJ.
IrisJ. 19 Jul 2017

Great advice, but may I also add that when buying an already built home, make sure you do all of the proper inspections. Most importantly pest inspection because people tend to get surprised when they

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IrisJ.
IrisJ. 17 Jul 2017

The third point is, in my opinion, the most important one. People have become too inconsiderate and careless when it comes to rented properties. If a landlord wants to protect their property, regular visits...

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cornishalan
cornishalan 10 Jul 2017

Added to the cost of purchasing these village properties are the above average maintenance costs. Particularly where the property is a listed building or requires specialist building skills such as thatching...

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Jo Mullett
Jo Mullett 07 Jul 2017

Here in Swansea, known as the Japanese knotweed capital of the UK, it never fails to amazes me that people have no idea of the potential problems this invasive non-native plant can cause when buying or...

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NathanG
NathanG 05 Jul 2017

McDonalds, for example, have been purchasing their real estate on prime locations for years. If something happens to the company they'll have invaluable assets that will be able to save them. We might

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Jonah
Jonah 04 Jul 2017

Graham: surprised to see you cite the "extra tax liability" as capping out at ?560. It doesn't - the extra tax is exponential, as it is levied on the income (i.e the inflating level of rental income you...

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Dianne Griffen
Dianne Griffen 29 Jun 2017

Be very wary of anyone bringing you deals that they have ?found? and want to ?sell on to you? or ?joint venture? with you on ? you need a proper legal contract for this, involve a RICs surveyor to confirm...

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jason hadzikostas
jason hadzikostas 28 Jun 2017

The most important thing is a budget. Students have to manage their spendings in food, house maintenance, books and many other things. According to me, student Studios are the perfect option for them as...

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