More Growth in the Housing Market, with Continued Rising Annual Prices


Good news for those already on the property ladder as it has been announced that the annual growth of housing price has seen a notable increase of over 10% this March, with both quarterly and monthly increased also reported in the most recent index.

The total increase came in at an increase of 10.1% annually, which has led to the present average price for a home now sitting at £214,811 as highlighted in the Halifax index. This comes alongside figures highlighting monthly growth at 2.6% when compared against the month previous, with growth over the first quarter of the year sitting at around 2.9%.

Of course, the good news builds upon the success seen in the year up to January and February, where a markedly successful rise of 9.7% was reported. A key success can also be seen in the simple fact that those rises reported since the start of 2015 have successfully sat between a comfortable range of 8-10%.

The results recorded go a great way to recovering lost ground from the 1.5% fall in February, which only goes to show that quarterly reports do far more to highlight the longevity of the sector than those on a monthly basis. This, of course can be attributed to the oft volatile state of the market, but the results thus far do indeed indicate a long-term stability in the growth of prices.

Of those results seen, the prices for flats has been seen to rise at a rate far more sharp than prices across other property archetypes, which was highlighted in another related, but separate piece of research from Halifax. Most specifically, a 57% increase on average housing prices was reported, which sits at a value far more considerable than the rise of 37% seen across all residential properties in the reported time period.


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