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

Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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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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