UK housing market remains resilient

Halifax have released their latest figures this morning and revealed that, despite a less than certain political and financial climate, the UK housing market remains steady.

According to the lender, on a monthly basis, house prices fell by just 0.3%, 5.7% higher than in the same three months a year earlier. Halifax says the average price for a home in the UK now stands at £237,110.

Russell Galley, Managing Director, Halifax, said: “More generally the housing market is displaying a reasonable degree of resilience in the face of political and economic uncertainty."

"Recent industry figures show demand looking slightly more stable, with mortgage approvals ticking along just above the long-term average.”

The number of new online property listings however did fall across the UK in June with Truro seeing a reduction of -30.3% and a further slowdown predicted for the summer holidays.   The decrease in available properties may well sustain prices with sellers able to take advantage of the high summer season as they will face less competition for buyers.

Source: www.propertyreporter.co.uk

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