Brian Murphy, Head of Lending for Mortgage Advice Bureau comments:
“The report released by the Halifax this morning suggests that the average UK property price cooled slightly in April from the previous average high in March, although as a key indicator this particular statistic can be skewed by outlying transactions. This aside however, the data would appear to indicate that we’re still seeing prices perform within market forecasts for 2018, and whilst April was a tricky month for many agents between the early Easter holidays and the late bout of wintry weather hampering viewings, overall transactions levels are still ticking over.
Of course, many eyes will be on the MPC meeting minutes this Thursday, with what was previously a racing certainty in terms of an interest rate increase now considered to be more of an outside chance by many commentators. However, one must remember that earlier in April prior to the lower than anticipated inflation figure being announced, sentiment was very much that of an increase which of course may have influenced consumer thinking. Between that and the snow showers, it’s no surprise that the anticipated ‘Spring surge’ didn’t materialise. With two Bank Holidays in May, it will be interesting to see if the sunshine tempts both buyers and sellers back into action this month, as an influx of new listings is very much required in many areas in order to stop the market stagnating further.”
Read the full Halifax report here.
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