Latest News From Complete Clarity Solicitors

The latest legal news & family, employment, personal injury and wills & succession law news from Complete Clarity Solicitors.
1 minute reading time (240 words)

Halifax Predicts Slowdown in House Price Growth

The latest House Price Index from Halifax has revealed that house prices in the three months to May were 1.4% higher than in the preceding three months. This was slightly below April’s 1.5% and was the lowest since November 2015 (1.4%).

The figures also show that house prices in the three months to May 2016 were 9.2% higher than in the same three months of the previous year, which is unchanged from April.

“Low interest rates, increasing employment and rising real earnings, continue to support housing demand,” commented Martin Ellis, Halifax housing economist. “The strength of demand, combined with very low supply, is causing house prices to rise at a brisk pace in quarterly and annual terms.”

“Increasing affordability issues, caused by a sustained period of higher-than-earnings house price growth, should curb housing demand and result in some slowdown in house price growth as the year progresses,” he added.

The Index also revealed that home sales dropped substantially in April this year, with numbers falling by 45% from 153,700 in March to 84,300 in April.

In addition, housing supply remains very low, with new instructions by home sellers falling for the second consecutive month in April. This apparently contributed to a rise in the stock of homes available for sale as market conditions remain very tight.

Contact Us

For professional legal advice on the issues discussed here, or on any other property law matter, contact our expert property lawyers today.

RoS Provides Insight into Scottish Housing Market
Inheritance Plans Affected by Family Financial Sup...

Related Posts

Get in touch

We’re here to help

Please let us know your name.
Please let us know your Surname.
Please let us know your Email.
Please let us know your phone number.
Please let us know your selection.
Please let us know your message.
Do you require legal aid?

Sorry, we do not offer legal aid.

What happens next?

View our process