House price growth eases, says Halifax

Jessica TranterLast Update : Monday 9 May 2016 - 11:09 AM
House price growth eases, says Halifax

House price growth eases after rush in March, says Halifax

houses in DevonImage copyright Thinkstock

Further evidence has emerged of a slow-down in UK house prices in April, as the Halifax said growth eased to 9.2% compared to last year.

A month ago, the Halifax said house prices were rising by 10.1%.

Compared with March, prices actually fell in April – by 0.8% – although the monthly figures can be very volatile.

The slow-down follows a rush to beat the new stamp duty tax rates for buy to let and second homes at the start of April, the Halifax said.

During the month of March there were a record 165,400 property sales in the UK, which was 11% more than the previous peak in January 2007, according to HM Revenue and Customs (HMRC).

“Current market conditions remain very tight as the severe imbalance between supply and demand persists,” said Martin Ellis, Halifax’s housing economist.

“This situation, combined with low interest rates and rising employment and real earnings, should continue to push house prices up over the coming months.”

However, the Halifax also said that confidence in the housing market was at its lowest level in over a year.

Source: BBC Business

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2016-05-09 2016-05-09
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Jessica Tranter