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FREE landlord softwareThe Halifax House price Index for March 2015 has just been published.
The key points -
- First quarter (Jan, Feb, March ) average prices were up 2.6% from fourth quarter 2014.
- First quarter 2015 prices were 8.1% higher than first quarter 2014.
- House prices increased by 0.4% in March, offsetting February’s 0.4% fall.
- Sale volumes saw a modest pick-up following the steady decline during 2014.
Halifax's housing economist, Martin Ellis, commented:
"House prices in the three months to March were 2.6% higher than in the previous three months. This measure of the underlying rate of house price growth increased for the third consecutive month in March. Annual price growth, however, fell slightly again, from 8.3% in February to 8.1%, and is comfortably below last July’s peak of 10.2%.
“The recent return to real earnings growth for the first time in several years, very low mortgage rates and last December’s stamp duty changes are supporting housing demand. The rising level of house prices in relation to earnings should, however, curb house price growth and activity. The annual rate of house price growth, which has continued to ease in the first quarter of 2015, is forecast to end the year at 3- 5%.”
Read in full - Halifax March 2015 House Price Index
House prices have "bottomed out" according to #Halifax and economists. http://t.co/OxEqnvO2A0 pic.twitter.com/fu6xrl26Zo
— Telegraph Property (@TeleProperty) April 9, 2015
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