SUBSCRIBE TO OUR NEWS EMAILS
Monday, 16 May, 2022
No Result
View All Result
BestAdvice
  • News
  • Features
  • Blogs
  • Podcast
  • Research & Reports
  • Video
  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Green Mortgages
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMO/MUFB
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI
BestAdvice
  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Green Mortgages
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMO/MUFB
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI
No Result
View All Result
BestAdvice
No Result
View All Result

Halifax: August house prices up 5.2% year-on-year

by Kevin Rose
7 September 2020
Pepper cuts non-conforming residential rates
Share on FacebookShare on TwitterShare on LinkedIn

Halifax has reported that, on a monthly basis, house prices in August were 1.6% higher than in July.

During the past three months, June to August, house prices were 1.3% higher than in the preceding three months (March to May).

Meanwhile, house prices in August were 5.2% higher than in the same month a year earlier.

However, Halifax said that uncertainty remains with likely greater downward pressure on prices in the medium term.

RelatedPosts

Selina Finance improves lending criteria

Mortgage accessibility gulf between old and young

Kuflink helps landlord with five-day bridging completion

Russell Galley, managing director of Halifax, said: “House prices continued to beat expectations in August, with prices again rising sharply, up by 1.6% on a monthly basis. Annual growth now stands at 5.2%, its strongest level since late 2016, with the average price of a property tipping over £245,000 for the first time on record.

“A surge in market activity has driven up house prices through the post-lockdown summer period, fuelled by the release of pent-up demand, a strong desire amongst some buyers to move to bigger properties, and of course the temporary cut to stamp duty.

“Notwithstanding the various positive factors supporting the market in the short-term, it remains highly unlikely that this level of price inflation will be sustained. The macroeconomic picture in the UK should become clearer over the next few months as various government support measures come to an end, and the true scale of the impact of the pandemic on the labour market becomes apparent.

“Rising house prices contrast with the adverse impact of the pandemic on household earnings and with most economic commentators believing that unemployment will continue to rise, we do expect greater downward pressure on house prices in the medium-term.”

Jamie Johnson, CEO of FJP Investment, added: “Today’s House Price Index from Halifax reaffirms just how successful the stamp duty holiday has been, dispelling reservations and encouraging buyers and sellers to return to the property market. The release of the pent-up demand that accrued during lockdown is beginning to make up for the losses incurred at the height of lockdown.
The question now becomes whether this momentum can be sustained over the coming months. Will this surge fizzle out, or can we begin to expect a fully-fledged resurgence in the market? There is no definitive answer, but today’s House Price Index is indicative of the latter.

“What is certain is the reputation of UK property as a safe and secure asset. In these uncertain times, its value as an asset able to deliver significant returns and security during times of volatility still holds up. If the rate of COVID-19 infections continues to drop, I don’t see buyer momentum disappearing anytime soon.”

Previous Post

Medical Solutions partners with Cirencester Friendly

Next Post

Pure Retirement unveils September webinar series

Related Posts

Selina Finance improves lending criteria
secured loans

Selina Finance improves lending criteria

16 May 2022
Mortgage Broker Tools introduces BTL Affordability
Affordability

Mortgage accessibility gulf between old and young

16 May 2022
P2P launch sees Alpha Bridging rebrand
short-term lending

Kuflink helps landlord with five-day bridging completion

16 May 2022
Landbay rebrands and unveils new broker portal
buy-to-let

Landbay rebrands and unveils new broker portal

16 May 2022
The Nottingham to offer product transfers via brokers
digital process

The Nottingham to offer product transfers via brokers

15 May 2022
LendInvest agrees charity partnership with Mind
mental health

LendInvest agrees charity partnership with Mind

15 May 2022
Next Post
Paradigm unveils summer mortgage webinar programme

Pure Retirement unveils September webinar series

Co-operative Bank appoints new CEO

United Trust Bank appoints chief commercial officer

David Landen becomes new Hodge CEO

David Landen becomes new Hodge CEO

READ OUR FREE REPORT

LATEST OPINIONS & BLOGS

The way forward

The equity release benefits of multi-disciplinary support

15 May 2022
Vanilla – or is it?

Vanilla – or is it?

8 May 2022

Committed to the broker market

8 May 2022
ESG: how do we conduct ourselves?

ESG: how do we conduct ourselves?

8 May 2022
Widespread underestimation of remortgage savings

Are longer-term fixes really cheaper than two-year deals?

2 May 2022

RECEIVE BESTADVICE BRIEFINGS

  • Subscribe
  • Advertise
  • Backlinks
  • About us
  • Contact us
  • Privacy policy
  • Terms & Conditions
SUBSCRIBE TO OUR ALERTS!

© 2022 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Unit 1, E.M.P. Building, 4 Solent Road, Havant, Hampshire PO9 1JH

X
No Result
View All Result
  • MORTGAGES
    • Mortgage type
      • Discount mortgages
      • Fixed rates
      • Fee-free
      • Interest-only
      • Offset
      • Remortgages
      • Trackers
      • Variable rates
    • Conveyancing
    • First time buyers
    • Green Mortgages
    • Help to Buy
    • New build
    • Overseas
    • Regulation
    • Self build
    • Shared ownership
  • BRIDGING
  • BTL
    • Consumer BTL
    • HMO/MUFB
    • Limited Company BTL
  • COMMERCIAL
    • Asset finance
    • Auction finance
    • Commercial mortgages
    • Development finance
    • Invoice finance
    • SME finance
  • DISTRIBUTION
  • G.I.
  • LATER LIFE
    • Equity release
      • Lifetime mortages
      • Drawdown
    • Pensions
    • Retirement borrowing
  • LOANS
  • PROTECTION
    • Critical illness
    • Income protection
    • Group protection
    • Life cover
    • PMI

© 2022 Trek Publishing Limited. Website design by Bedazzled Media Limited.
Company Number 11335497. Registered Office: Unit 1, E.M.P. Building, 4 Solent Road, Havant, Hampshire PO9 1JH

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.