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

HMRC says small business are now responsible for...

June 23, 2023

Maximising Workplace Motivation with Creative Breaks and Digital...

October 10, 2024

Apple unveils $500bn US investment drive to circumvent...

February 24, 2025

Trump threatens 200% tariffs on European wine over...

March 13, 2025

JD Vance says there’s a ‘good chance’ of...

April 15, 2025

Fiscal drag to push 8.3 million more Britons...

April 22, 2025

Netflix to launch cheaper ad-supported subscription tier in...

September 5, 2022

Food price inflation in UK falls for fifth...

August 16, 2023

The Magnetic Pull of Digital Innovation: Bitcoin’s Polarity

January 17, 2024

Sainsbury’s launches EV charging business to give ‘smart...

January 12, 2024

    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

    • HMRC inheritance tax investigations surge 37% as treasury seeks to plug revenue gap

      June 9, 2025
    • Believ secures £300m to roll out 30,000 public EV charge points across the UK

      June 9, 2025
    • US and China hold London talks to ease trade war tensions

      June 9, 2025
    • British fathers urged to join landmark ‘dad strike’ over poor paternity leave

      June 9, 2025
    • IVF parents should have right to paid fertility leave, says GMB union

      June 9, 2025
    • Reform UK clashes with Bank of England over interest payments to lenders

      June 9, 2025

    Categories

    • Business (8,158)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • 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