Property prices continue to rise - Mortgages - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Property prices continue to rise

Property prices continue to rise

Category: Mortgages

Updated: 08/05/2013
First Published: 08/05/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Figures released by the mortgage lender Halifax have revealed a quarterly increase in UK property prices.

Between February and April this year, house prices grew by 1.3% compared with the previous three months in 2012, representing the fifth successive quarterly increase. On an annual basis, prices increased by 2%.

Despite continued house price growth, levels of activity in the housing market are reported to have remained flat over the three months period.

Additional figures from the Bank of England recently revealed a 1% fall in volumes of mortgage approvals between quarter four of 2012 and quarter one of this year.

Martin Ellis, housing economist, said that whilst house prices continue to grow, low levels of market activity was concerning.

"The number of mortgage approvals for house purchases, a leading indicator of completed house sales, eased slightly in the first quarter of 2013," he said.

"Weak income growth and continuing below-trend economic growth are likely to remain significant constraints on housing demand during the remainder of 2013."

What next?

Search all mortgages
Mortgage repayment calculator
How much can you borrow calculator

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Homemover numbers fall for first time since 2011

The mortgage market enjoyed a record year in 2016, so it may come as a surprise to hear that the number of people moving home has fallen for the first time in five years, with fewer apparently taking advantage of the market.

2016: the best year for remortgaging since 2009

Remortgaging has certainly seen a surge in activity of late, helped in no small part by the dramatic drop in mortgage rates over the last year, so much so that 2016 as a whole proved to be the best year for the sector since 2009.

Homeowners underestimate remortgaging savings

Remortgaging has been enjoying a surge in popularity in recent months, and considering how much you could save, it’s a no-brainer! Unfortunately, many fail to realise the extent of potential savings, which could mean too few make the switch.
 
Close