House price growth for UK properties reaches highest level since March

Thu, 12 Jan 2017

House price growth for UK properties reaches highest level since March
In the year to the end of December 2016, house prices rose 6.5 per cent to leave the average UK house price at £222,484, according to the Halifax.

From November to December the Halifax recorded a climb of 1.7 per cent, the strongest growth since March, when economists had forecast that prices would only go up 0.3 per cent during this one-month period.

The largest house price rises were recorded in Luton, with the town seeing prices rise 19.4 per cent last year, ahead of Barking and Dagenham (East London) which saw prices jump 18.6 per cent.

A shortage of affordable housing means that potential homebuyers are likely to continue to struggle to get onto the property ladder, property experts are warning.

"Slower economic growth, pressure on employment and a squeeze on spending power, together with affordability constraints, are expected to reduce housing demand during 2017," said Martin Ellis, Halifax's housing economist.

"UK house prices should, however, continue to be supported by an ongoing shortage of property for sale, low levels of housebuilding, and exceptionally low interest rates.

"Overall, annual house price growth nationally is most likely expected to slow to 1-4 per cent by the end of 2017. The relatively wide range for the forecast reflects the higher than normal degree of uncertainty regarding the prospects for the UK economy this year."
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.




mths

Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company

HomeBuyService.co.uk is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy
FAQ
Sitemap

Get in Touch