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

SecomTech 22 Jun 2017

AT Last...This was discussed years ago and there was a move towards landlords registering their bad tenants on a database..(can't remember where) It seems a logical step though our leaders will probably...

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Bertrand 02 Jun 2017

How about the Welsh Govt introducing a scheme to protect landlords against "rogue" tenants who are then taken to court for criminal damage to the properties they trash. Pretty unlikely I suspect and politically...

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AmberMorris 25 May 2017

"Please don't pick a novelty tune-playing doorbell. They're not 'fun'. They're stupid." Laughed a lot to this. It's actually true, though.

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Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

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Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

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Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

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paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

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CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

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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 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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