House price growth 'at lowest level since 2013', research reveals

11 Apr 2017

Growth in UK house prices slowed significantly in the year to March, research published by Halifax has revealed. House prices rose by 3.8% – the lowest rate since 2013. This is down from 5.1% in the year to February.

The average house price in the UK is now £219,755, according to Halifax.

Martin Ellis, Housing Economist at Halifax, commented: ‘The annual rate of house price growth has more than halved over the past 12 months.

‘A lengthy period of rapid house price growth has made it increasingly difficult for many to purchase a home, as income growth has failed to keep up, which appears to have curbed housing demand.

‘Nonetheless, the supply of both new homes and existing properties available for sale remains low. This, together with historically very low mortgage rates, is likely to support house price levels over the coming months.’

A separate report by the Centre for Economics and Business Research (CEBR) has suggested that the average house price in the UK is set to rise to £220,000 this year, ‘despite Brexit negotiations’.


hcwa_logoBAS_logoicaew_logoChartered Tax Advisers logo
Copyright

© 2018 Mark J Rees LLP. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Contact Us

Please call:
0116 2549018

Address
Mark J Rees LLP, Granville Hall, Granville Road, Leicester, Leicestershire LE1 7RU

Mark J Rees LLP is a Limited Liability Partnership Registered in England & Wales Number OC362074. A list of members’ names is available at the business address. MJR, Mark J Rees and MJR Wealth Management are trading styles of Mark J Rees LLP which is registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales and authorised and regulated by the Financial Conduct Authority.

‘Partner’ refers to a director of a corporate member.