The average price of a house in the UK is approximately £219,649, according to the latest House Price Index from Halifax. The house price growth has remained unchanged for the last three months with 3.8 per cent growth when compared to the corresponding period last year.
“Continuing very low mortgage rates, together with an ongoing acute shortage of properties for sale, should nonetheless underpin house prices over the coming months,” the Halifax report observed. In fact, steep prices of houses have made it unaffordable to a large segment of house-buyers, especially first-time buyers in the UK.
Incidentally, confidence in the UK housing market has stabilised, according to the latest Halifax Housing Market Confidence Tracker. The survey, which tracks House Price Optimism (HPO1) – consumer sentiment on whether house prices will be higher or lower in a year’s time – has shown a small improvement (+2 points) from a net +42 in October 2016 to +44.
Nearly six in 10 (58 per cent) expect the average property price to rise in the next 12 months, compared to just one in 10 (14 per cent) who expect prices to fall.
If you are keen on buying a house for owner occupier purpose or for rental income in London, Strawberry Star has excellent options for you. Connect with our estate agents at our London office for more information.
House prices in the three months to April 2017 were 0.2% lower than in the three months to January 2017.