Brian Murphy, Head of Lending for Mortgage Advice Bureau comments:
“The data released from Halifax this morning suggests that the annual rate of growth over the last twelve months was one of the lowest we’ve seen in recent years, which given the twelve months of Brexit-led headlines and uncertainty isn’t entirely surprising. This coupled with a negative month on month figure in today’s data may be disappointing for some, but there is perhaps a more holistic view to be taken.
Firstly, a softening in prices together with the current exceptionally competitive lending climate may provide a helping hand to First Time Buyers to get a foot on the ladder, which is good news. Secondly, as well we know, this overall figure masks the exceptionally nuanced picture across the UK, where some areas have undoubtedly seen significant growth over the past year and, indeed, prices are still ascendant due to buyer confidence. Regions such as the East and West Midlands, Yorkshire and the Humber and East Anglia have all seen substantial increases in values with ongoing buyer demand, which suggests that we start 2019 very much as we ended 2018, which is to say that in terms of property price growth and buyer sentiment, there really isn’t a ‘one size fits all’ picture at the moment.”
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