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Halifax House Price Index March 2019

Brian Murphy, Head of Lending for Mortgage Advice Bureau comments:

“The data released from Halifax this morning suggests that values have increased on an annual, quarterly and monthly basis in February, which is quite a turnaround from what the same index was reporting last month. One might suggest that the reason for this change is that the market has held steady over the past few months in most parts of the UK – London and the South East notwithstanding – but with the start of a new year, this has given way to a spike in activity due to the pent-up demand of those who wanted to move but had delayed their plans until more clarity around Brexit was available. With any direction with regards our imminent depart from the EU still lacking, it would appear that some purchasers have gone ahead anyway, supported by a highly competitive borrowing market, hence the ‘growth spurt’ in the market as reported this morning.

Anecdotal reports from across our network in terms of activity last month corroborate with this, and suggest that February was one of the busiest for the market that we’ve seen for some time in most areas of the country. However, there is a possibility that the current lack of stock in some regions is providing support for pricing, and therefore whilst today’s numbers make for an encouraging ‘feel good’ factor, as and when more sellers decide to list their homes in the coming months, it’s possible that we may see pricing stabilise again.”

To read the full Halifax report, click here.

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