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Approaching Major Support

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Inflation Concerns Underpin Bear Steepening

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Bullish Theme

MNI (London)
LONDON (MNI)

UK house prices rose in March for the first time since November with prices up by 1.1% on February, leaving the average property price at a record high, Russell Galley, Managing Director at Halifax, the nation's largest mortgage lender said Friday.

Annual house price inflation rose 6.5%, while quarterly prices improved 0.3%, data published Friday showed. "Casting our minds back 12 months, few could have predicted quite how well the housing market would ride out the impact of the pandemic," he said

"The continuation of government support measures has been key in boosting confidence in the housing market," Galley noted. The elevated levels of activity are expected to be maintained in the coming months, but considering current levels of uncertainty and the possibility of higher unemployment, house price growth is forecast to ease by the end of the year, Galley added.

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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