Halifax House price Index March

April 10, 2015

According to the Halifax, part of the Lloyds Banking Group, UK house prices rose by 0.4% in March compared with the previous month but the annual rate of property price growth slowed, property prices were 8.1% higher than a year ago.

The Halifax  which uses data from its own mortgage lending is maintaining the  prediction that annual house price growth will end the year at between 3% and 5%, this compounds the problem for potential first-time buyers  who cannot see ever affording a home of their own.

Demand for property is being maintained by earnings growth and low mortgage rates, added to that householders are feeling slightly richer with falling food and fuel costs, continued low rates of interest are key to maintaining demand and affordability, the weakening of housing market activity since the end of last year should now be bottoming out and once the election is out of the way we may even see a spike in activity.

 

 

 

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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