Annual house price growth climbs to 2.8 per cent

News Article

New data from the Halifax has shown that house prices from December 2018 to February 2019 were 2.8 per cent above the levels seen in the same period a year earlier. By contrast, the equivalent figure for the three months to January was 0.8 per cent

The quarter to February 2019 saw house prices 1.8 per cent higher than the quarter to November 2018. The average UK house price is now £236,800.

At the same time, UK home sales have remained relatively steady, with 101,170 sales in January, close to the five year average of 101,291.

More than 100,000 homes have been sold in each of the last five months

Nicola Tubbs, Supervising Partner with Palmers, who heads our conveyancing team, said: “These latest figures suggest that despite the continuing uncertainty over Brexit, the housing market remains relatively stable.

“The current level of activity appears to be consistent with a steady market, neither booming nor crashing, so many experts expect house prices to continue to rise slowly during 2019 year, roughly in line with wage increases.”

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