Latest UK house price figures show highest rise since January

 

Despite the average cost of houses across the UK hitting an all-time high, monthly home sales are still exceeding 100,000.

A report by Halifax has revealed that house prices in the UK have seen a 2.8% increase since January, with the average price of a house now standing at £225,826 – the highest on record.

Prices in Q3 this year were 2.3% higher than Q2 results, the fastest price growth seen quarter-on-quarter since January.

Year-on-year results showed a 4.5% increase from October 2016 to October 2017.

Russell Galley, managing director at Halifax Community Bank, said: “The annual rate of growth has continued to rise for the third month in succession, rising from 4.0% in September to 4.5% in October.”

Steady sales

“The fact that the supply of new homes and existing properties available for sale remains low, combined with historically low mortgage rates and a high employment rate, continues to support house prices and is likely to do so over the coming months,” he added.

Although Galley acknowledged that pressure on household finances, as well as issues around affordability, could affect buyer demand, Halifax doesn’t envisage the recent Bank of England base rate hike affecting people’s ability to buy.

In spite of the steady price hike, monthly home sales across the UK have been sustained above 100,000 throughout the year. The three months to September saw the number of house sales recorded at 6% higher than those of the same period a year earlier.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Latest UK house price figures show highest rise since January

Latest UK house price figures show highest rise since January

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.