The average price of houses in the UK increased by 3.9 per cent annually demonstrating the strong fundamentals of the property market, which has weathered many storms in the last one year.
The latest Halifax House Price Index shows that the average price of a house in the UK rose to £226,821 in November 2017, registering a decent 3.9 per cent increase over the corresponding period last year.
The house prices have been increasing month-on-month indicating the steady demand. In the last three months (September-November), the house prices were 2.4 per cent higher than in the previous quarter (June-August). This is the fastest price growth, on this measure, since January 2017. The average price of houses in November is 3.2 per cent higher than in January (£219,741).
Incidentally, the monthly home sales reached their highest level this year. Home sales grew to 105,260 in October to reach their highest monthly level in 2017, according to HMRC data. Sales have remained above 100,000 in all months this year. In the three months to November, home sales were 7 per cent higher than in the same period a year earlier.
These statistics clearly indicate the confidence of investors in the UK housing market. Good appreciation of capital values of residential assets will further boost demand, as supply continues to weaken.
If you are interested in investing in a residential asset in London to benefit from the appreciation of capital values, Strawberry Star’s schemes Greenview Court andBronze are ideal options. Launched this year, both schemes are set to experience an increase in capital values over the next two years. Please connect with our estate agents for more details.
Russell Galley, Managing Director, Halifax Community Bank, said: “The imbalance between supply and demand continues to support house prices, which doesn’t look like changing in the near future."