Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

House prices continue to rise despite higher rates says Halifax

by March 7, 2024
March 7, 2024
House prices continue to rise despite higher rates says Halifax

Despite the backdrop of higher interest rates, house prices in the UK continued their upward trajectory in February, according to the latest report from Halifax.

The data revealed a 0.4% increase in house prices during the month, marking the fourth consecutive monthly rise. On an annual basis, property prices experienced a more moderate growth rate of 1.7%, compared to a 2.3% increase in the previous month.

The average cost of a home in the UK now stands at £1,000 higher than the previous month, with London maintaining its position with the highest average house price across all regions, reaching £536,000. Notably, London witnessed a 1.5% increase in prices, marking the first positive annual growth since January 2022, indicating a potential shift in the capital’s property market dynamics.

Kim Kinnard, director at Halifax Mortgages, highlighted the relatively stable start to 2024 reflected in the housing market trends. Despite the slight moderation in annual price growth, other indicators such as mortgage approvals suggest increased housing activity. Moreover, the average home price is only approximately £1,800 shy of the peak observed in June 2022, indicating resilience in property values.

However, Kinnard also acknowledged the challenges faced by prospective homebuyers, particularly in raising a deposit and affording a substantial mortgage, amidst persisting economic uncertainties. Despite the recent easing of inflation and growth in wages, the affordability gap remains a concern, especially for those entering the property market.

Read more:
House prices continue to rise despite higher rates says Halifax

0
FacebookTwitterGoogle +Pinterest
previous post
Business Best Practice: Preparing for AI Regulation
next post
The Price of Shortsightedness: Emergency Spending’s $2 Trillion Interest Tab

You may also like

Over 110,000 UK small businesses at risk of...

August 7, 2024

University Living Launched Visa Assistance Service

January 24, 2024

Apprentice winner Mark Wright sells multi-million pound company...

November 11, 2022

UK shoppers slash spending as price rises and...

March 7, 2023

Capital Gains Tax changes may reveal underpaid tax

September 19, 2023

Nationwide limits crypto exchange payments as consumer risk...

March 3, 2023

Garrick Club Votes to Admit Women After 193-Year...

May 8, 2024

David Beckham lands $36m payday as Netflix documentary...

January 1, 2025

Eurozone Inflation Rate Drops to a Two-Year Low...

April 4, 2024

Pound hits seven-month high and gold surges past...

April 22, 2025

Over 110,000 UK small businesses at risk of...

August 7, 2024

University Living Launched Visa Assistance Service

January 24, 2024

Apprentice winner Mark Wright sells multi-million pound company...

November 11, 2022

UK shoppers slash spending as price rises and...

March 7, 2023

Capital Gains Tax changes may reveal underpaid tax

September 19, 2023

Nationwide limits crypto exchange payments as consumer risk...

March 3, 2023

Garrick Club Votes to Admit Women After 193-Year...

May 8, 2024

David Beckham lands $36m payday as Netflix documentary...

January 1, 2025

Eurozone Inflation Rate Drops to a Two-Year Low...

April 4, 2024

Pound hits seven-month high and gold surges past...

April 22, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • UK government launches £2.5bn DRIVE35 strategy to supercharge zero-emission auto manufacturing securing thousands of British jobs

      July 13, 2025
    • Mega solar farms built on England’s best farmland, CPRE warns

      July 13, 2025
    • Kash Patel torches ‘conspiracy theories’ about Bondi feud amid MAGA furor over Epstein files

      July 13, 2025
    • Trump defends embattled AG Pam Bondi, says ‘nobody cares about’ Jeffrey Epstein

      July 12, 2025
    • Bondi says all charges against doctor who allegedly destroyed COVID vaccines have been dropped

      July 12, 2025
    • Meet ‘China’s man in Lima’ who jetted over to US to collect trains donated by Biden admin

      July 12, 2025

    Categories

    • Business (8,458)
    • Investing (2,118)
    • Politics (16,018)
    • Stocks (3,205)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved