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Thursday, March 03, 2016

Nationwide pitches in with its HPI for Feb

Following on from Nationwide's latest HPI figures claiming annual growth now at 4.8%, the Halifax have published their February 2016 data, putting annual growth at 9.7% .

That more than twice the Halifax rate, so using my befuddled logic, maybe the real rate is somewhere between the two, so, let's say 7.2% - it's as good a guess as any.

Anyway back to the Halifax release. The bank reports prices in the three months to February were 9.7% higher than in the same three months a year earlier. 

Halifax housing economist, Martin Ellis comments: 

"House prices in the three months to February were 3.0% higher than in the previous three months whilst the annual rate remained unchanged at 9.7%.

Prices continue to rise at a robust pace driven by a significant imbalance between supply and demand. Whilst this position is likely to continue over the coming months, there are some tentative signs that the supply situation may be beginning to improve. Instructions for secondhand properties coming up for sale have increased in the past two months and the level of housebuilding increased significantly in 2015. Further ahead, increasing affordability issues, as house price increases continue to exceed wage growth, are likely to curb housing demand and cause price growth to ease.”

So, does anyone else want to guess what the actual rate might be?

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