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

House Prices Rise for Second Month in a...

April 3, 2024

Bank of England cuts rates to 4.75% as...

November 7, 2024

HS2 rail plans could be derailed in hunt...

October 31, 2022

UK braces for even higher bills as Norway...

August 9, 2022

Childcare costs ‘soaring by £600-plus a month’ as...

September 28, 2023

The Impact of the Tourist Tax on Retail...

August 14, 2023

Trump’s media company shares plummet to record low...

August 20, 2024

JD Wetherspoon see rising sales rise but warn...

November 8, 2023

Bill-payers appalled as Shell reports highest profits in...

February 2, 2023

Meta hit with €800m fine by EU for...

November 14, 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

    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,570)
    • 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