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UK House Prices At New High, Headwinds Building

UK DATA
MNI (London)
  • The average value of house prices in the UK rose to a fresh record high in March, as prices rose at the fastest monthly rate in 6 months according to Halifax.
  • Prices rose 1.4% m/m and 11.0% y/y, pushing the average property to GBP282,753.
  • In the two years since the first lockdown, house prices have risen by GBP43,577.
  • Cost of living pressures will likely slow the rate of house price growth this year.
  • Higher interest rates and cost of living weigh further on disposable incomes. This is expected to slow house price inflation over the next year.

Source: Halifax

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