Halifax report house price surge in June

According to the Halifax UK house prices  picked up in the last quarter after two successive falls,  with an unexpected month-on-month surge in June pushing the annual rate to 9.6%, the Halifax house price index showed prices jumped by 1.7% between May and June, the fourth consecutive monthly rise, this is contrary to other ecent surveys showing a decline in the cost of a UK home.

The annual house price growth also increased to 9.6% from 8.6% in May and is at its highest since September, this is in contrast to the Nationwide’s recent report that house prices dipped 0.2% in June, which reduced the annual rate of increase to a two-year low of 3.3%
Martin Ellis Halifax’s housing economist said “Supply remains very tight with the stock of homes available for sale currently at record low levels”.

He  went on to say “This shortage has been a key factor maintaining house price growth at a robust pace so far in 2015. Economic growth, higher employment, increasing real earnings growth and very low mortgage rates are all supporting housing demand with signs of a recent modest pick-up in demand.”

 

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.

You May Also Enjoy

Letting Agent Talk

Letting Agency Owners: Are You the Bottleneck in Your Business?

As a letting agency owner, it’s easy to fall into the trap of wearing too many hats. But it’s not just exhaustion and burnout you need to worry about – it’s the impact it’s having on your bottom-line. Guest Blog By Sally Lawson – Agent Rainmaker “From managing client relationships and handling operations, to overseeing…
Read More
Breaking News

Latest developments in Renters’ Rights Bill: What landlords need to know

On the brink of becoming law, the Government last week rejected the majority of amendments put forward by the House of Lords, which would have mitigated the severity of some of the amendments. Property professionals, landlords and tenants are poised to navigate this once-in-a-generation overhaul of housing legislation.   Lucy Jones, Chief Operating Officer at…
Read More
Breaking News

What Will Commonhold Mean for Property Managers?

By Robert Poole, Director – Block Management, Glide Property Management, part of LRG The government’s ambition to end leasehold for most residential properties has put commonhold back into the spotlight. First introduced in 2002, commonhold offered a resident-led alternative to traditional leasehold ownership. However, legal and commercial complexity stalled adoption. Two decades later, policymakers are…
Read More
Breaking News

Think You Know Mortgages? These 5 Myths Could Be Costing You Money

When it comes to mortgages, most of us have had advice from family and friends. The trouble is, a lot of these so-called facts are myths, with many individuals missing out on better deals or opportunities, due to not doing their own due diligence. Emma Graham, Business Development Director at Hodge Bank, explained: “Mortgages are…
Read More
Breaking News

Just 17% of homes selling for more than £500k

The latest analysis by eXp UK has revealed that while just 17.4% of homes sold across England and Wales so far this year achieved a price of £500,000 or more, agents in London, the South East, and the East of England will face the greatest need to adapt should the Government press ahead with plans…
Read More
Breaking News

Estate agents back Rachel Reeves’ stamp duty shake-up but call for abolition without replacement tax

The latest research from GetAgent has revealed that the majority of estate agents in England are supportive of Chancellor Rachel Reeves’ plans to overhaul property taxation by scrapping Stamp Duty Land Tax (SDLT). However, 44% argue that the new levy should be focused only on higher-value homes, while 79% favour abolishing SDLT outright without introducing…
Read More