The UK house prices have increased by 2.7 per cent annually in March 2018 with the average price of a home reaching £227,871. This is a welcome relief to investors in the housing sector, as there have been indications of stagnation in the house prices’ growth.
According to the latest Halifax House Price Index, house prices in the last three months to March were 2.7 per cent higher than in the same three months a year earlier, edging up from the 1.8 per cent annual growth recorded in February.
Monthly, prices grew by 1.5 per cent in March, this follows a 0.5 per cent rise in February. The monthly changes in house prices can be volatile.
The Halifax House Price Index is the UK's longest running monthly house price series with data covering the whole country going back to January 1983. It reflects the health of the UK housing market.
Home sales in February reached 101,000, the same as in January. The number of mortgage approvals in February was 63,910.
The UK residential property market, especially London, remains one of top residential real estate hubs of the world. Investing in a London property from long-term perspective has several advantages, such as, consistent growth of capital values and rental income. If you are keen on exploring the London residential market for investments, connect with Strawberry Star property professionals by calling the London office for details.
House prices in the three months to March 2018 were 2.7% higher than in the same three months a year earlier.