House price rises despite Brexit looming large


UK house prices were 2.1% higher last month than they were a year ago at an average price of £234,625, according to the Halifax House Price Index.

Prices also grew on a monthly basis, rising 1.0% from October. It means an end to back-to-back months of declining growth as November’s gains recouped the previous month’s losses.

The average house price is now the highest it has been all year, surpassing the previous high of February’s £234,195. UK house prices also posted quarterly gains, with the latest quarter, including September, October and November, 0.2% up on the preceding three months.

Russell Galley, Managing Director, Halifax, said:

“Prices are now up by £3,904 since the start of the year. While a degree of uncertainty remains evident, it’s also clear that buyers and sellers are responding to factors such as improved mortgage affordability and the limited supply of available properties.”

Commentators believe it is these issues which will continue to underpin the resilience evident in the market for most of 2019. Over the medium term they expect the emerging trend of modest gains to continue into next year.

Articles on this website are offered only for general informational and educational purposes. They are not offered as and do not constitute financial advice. You should not act or rely on any information contained in this website without first seeking advice from a professional. Capital is at risk; investments and the income from them can fall as well as rise. Your home is at risk if you do not keep up your mortgage payments.

You are now departing from the regulatory site of Finura. Finura is not responsible for the accuracy of the information contained within the linked site.



Other News

How to talk to teenagers about money

The right financial education can make your children feel more confident about money so, when they are older, they have the knowledge and skills to meet their financial goals.

Podcast: How markets perform when rates are cut

In the latest Investor Download, Duncan Lamont, Head of Strategic Research at Schroders, takes us through what happens in markets when interest rates are cut.

Securing Your Legacy: The Importance Of Creating A Will To Safeguard Your Wealth

In the hustle and bustle of daily life, it can be easy to overlook essential aspects of financial planning. One such crucial component is creating a Will, a document that ensures your wealth is distributed according to your wishes after you pass away.