Annual house price growth unchanged at 9.7%

    The Halifax recently released their House Price Index for February 2016. Key Facts • Prices in the three months to February were 9.7% higher than in the same three months a year earlier • House prices in the latest three months (December-February) were 3.0% higher than in the preceding three months • House prices decreased by 1.4% between January and February. This offset much of January’s 1.7% rise. Monthly house price changes can be volatile. The quarter on quarter change is a more reliable indicator of the underlying trend. • Increase in areas where homes have risen more in value than owner’s total earnings. The increase in average house prices has exceeded total average employee’s net earnings in more than a quarter of local authority districts across the UK – 108 out of 380 (28%) – over the past two years, according to recent Halifax research. Commenting, Martin...
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Comment on the latest Halifax HPI

According to the latest Halifax House Price Index, UK house prices have increased by +2.8% on the last quarter, up nearly +10% on this time last year. Founder and CEO of eMoov.co.uk, Russell Quirk, commented: “The continued rise in house prices across the UK won’t come as a surprise to many. The nation are currently experiencing one of the most comfortable economic periods in quite some time, with interest rates at a record low and looking to stay that way until next year at least. There is no doubt that the main driving factors behind this uplift are the abundance of more affordable mortgage products on the market, as well as the continuous elephant in the room of a general lack of housing in Britain, affordable or otherwise, due to inventory levels hitting an all time low. Although this might make good reading for many homeowners who are due to benefit...
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Annual house price growth eases to 8.6%

    Key Facts Prices in the three months to September were 8.6% higher than in the same three months a year earlier House prices in the latest three months (July-September) were 2.0% higher than in the preceding three months Commenting, Martin Ellis, Halifax housing economist, said: "House prices in the three months to September were 2.0% higher than in the previous quarter. This measure of the underlying rate of house price fell from last month’s 3.0%, to its lowest since May. The annual rate eased from 9.0% to 8.6%. “Housing demand has been strengthening recently, underpinned by economic growth, rising real earnings and very low mortgage rates. Increasing demand is combining with very low supply to drive robust underlying house price growth. There is little reason to expect any fundamental shift in the key market drivers over the coming months.”   Key facts House Prices Housing Activity • House prices...
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