Business, Economics, Stock markets, FTSE, House prices Business | The Guardian
Rolling coverage of the latest economic and financial newsEconomic growth may be slowing, but UK house prices continues to rise – according to lender Halifax.It has reported that house prices increased by 0.7% in January, following a dip of 0.2% in December, lifting the average price to a new record high of £299,138 (on Halifax’s index).Affordability is still a challenge for many would-be buyers, but the market’s resilience is noteworthy. There’s strong demand for new mortgages and growth in lending.With a stamp duty increase looming, some of this demand may have come from first-time buyers eager to complete transactions before the end of March.“Despite geopolitical uncertainties, and waning consumer confidence, other key indicators look fairly positive for the housing market. The Bank of England has made its first base rate cut of the year, and there are probably more to come.Household earnings are expected to continue outpacing inflation – albeit that gap may narrow – easing some of the financial pressure still being felt from the cost-ofliving squeeze Continue reading…
Rolling coverage of the latest economic and financial news
Economic growth may be slowing, but UK house prices continues to rise – according to lender Halifax.
It has reported that house prices increased by 0.7% in January, following a dip of 0.2% in December, lifting the average price to a new record high of £299,138 (on Halifax’s index).
Affordability is still a challenge for many would-be buyers, but the market’s resilience is noteworthy. There’s strong demand for new mortgages and growth in lending.
With a stamp duty increase looming, some of this demand may have come from first-time buyers eager to complete transactions before the end of March.
“Despite geopolitical uncertainties, and waning consumer confidence, other key indicators look fairly positive for the housing market. The Bank of England has made its first base rate cut of the year, and there are probably more to come.
Household earnings are expected to continue outpacing inflation – albeit that gap may narrow – easing some of the financial pressure still being felt from the cost-ofliving squeeze
