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Thursday, April 07, 2016

Halifax report annual property growth of 10%

  • Three months to March were 10.1% higher than in the same three months of 2015.
  • January-March 2016 prices up 2.9% higher October-December 2015. 

Halifax housing economist, Martin Ellis, comments:

"House prices in the first three months of 2016 were 2.9% higher than in the final quarter of 2015. The annual rate has grown from 9.7% to 10.1% in March.

Worsening sentiment regarding the prospects for the UK economy and uncertainty ahead of the European referendum in June could result in some softening in the housing market over the next couple of months.

Current market conditions, however, remain very tight with an acute supply/demand imbalance continuing despite an improvement in the number of properties coming on to the market for sale in recent months. This, together with continuing low interest rates and a healthy labour market, indicate that house price growth is set to remain robust.” 

View the full Halifax House price Index for March 2016

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