UK house prices make surprise 5.9% rise in February
07:46House prices rose by 5.9% in February – confounded many commentators, as it appears to contradict the widely held view that the UK’s property market remains in the grip of a slowdown.
Despite an escalation in Brexit confusion, property prices rose 3% percent last January, the latest Halifax index showed.
The Halifax said the 5.9% increase seen in February was thought to be the biggest it had ever recorded. It lifted the average property price to £236,800 – up from £223,629 at the end of January. That translates into a £470-a-day increase in value.
The big monthly rise lifted the annual rate of price growth to 2.8%, which the Halifax said was “fairly subdued” compared with 2015-16 when it was more than 8%.
But with other surveys and official data mostly showing housing market, Halifax cautioned against reading too much into the strength of a single month's figures.
Learn more about the benefits of investing in property development in the UK by reading more about Junaid Iqbal Memon online. You can also visit Junaid Iqbal Memon website here. Show your support by following the official Twitter page of the Junaid Iqbal Memon here.
The Halifax said the 5.9% increase seen in February was thought to be the biggest it had ever recorded. It lifted the average property price to £236,800 – up from £223,629 at the end of January. That translates into a £470-a-day increase in value.
The big monthly rise lifted the annual rate of price growth to 2.8%, which the Halifax said was “fairly subdued” compared with 2015-16 when it was more than 8%.
But with other surveys and official data mostly showing housing market, Halifax cautioned against reading too much into the strength of a single month's figures.
Learn more about the benefits of investing in property development in the UK by reading more about Junaid Iqbal Memon online. You can also visit Junaid Iqbal Memon website here. Show your support by following the official Twitter page of the Junaid Iqbal Memon here.
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