UK house prices rise to record high

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According to Halifax, a mortgage NDER, a property is approaching a tax break and the strain shows elasticity in the face of affordable, the average UK’s home prices have risen higher than the expectation in January.

According to new data on Friday, the month’s price increased by 0.7 percent after 0.2 percent of the dip in December.

This rise was much stronger than the 0.2 percent growth expected by economists surveyed by Reuters.

However, the annual growth of the price has reduced to 3 percent, which was less than 3.4 percent in the previous month.

Amanda Briden, the main of the mortgages HalifaxIt is said that the UK housing market “started the year on a positive note”.

“The ability is still a challenge for many buyers, but the market elasticity is noticeable. There is a demand for new mortgage and NDing growth, ”he said,” Some buyers may be interested in finishing the purchase before the stamp tariff at the end of March.

From April, among other changes, first -time buyers will start paying stamp tariffs on £ 300,000 or more property from the current marginalization of £ 425,000. It comes with the end of a temporary stamp tariff holiday launched on the October budget.

Briden said that despite the geological uncertainty and the reducing consumer confidence, the property market supported by supporting wages faster than the recent reduction of interest rates and inflation.

Thursday, the Bank of England Its policy has deducted the interest rate on the one percent point in the quarter of 4.5 percent, which is the lowest level since June 2023. It was a third cut since August last year.

Bowie Deputy Governor Dave Ramsden says, supporting the demand, is gradually decreasing at the rate of mortgage.

“We think the housing market is picking up,” he told reporters after the spending Thursday.

Despite still the top of their top in the summer of 2023, the mortgage rates have risen at the end of the last year and remain higher than 2021, before the Historical Tihasic lower of the Boer starts to increase the cost of taking orrow.

Friday’s statistics are contrary to separate information from mortgage NDDer nationwide, which in January, the price of the house has increased by only 0.1 percent, which reduces the rate of growth rate.

Halifax has greater samples than nationwide, about 15,000 transactions compared to 12,000 and focus on northern regions that can create short -term differences.

However, both nationwide and Halifax showed that the price of the house has risen during the epidemic, then the mortgage rate has increased in the last two years and then healed in 2021.

According to Halifax, in January, the average home price was 25 percent higher than February 2020.

The NDDer said that the price growth of the most powerful annual property in the United Kingdom in Northern Ireland continued, although in January, at 5.7 percent, it declined from .3.5 percent in December.

London retains the highest average home prices in the UK, £ 548,288, and has increased by 2.5 percent over a year ago.