Halifax has released its latest UK property house price index for the first quarter of the 2019. The average house price in the UK is now £233,181 (March 2019) up from £227,752 last March.
Halifax found that house prices were 2.6% higher than last year and were 1.6% higher this quarter year than the previous 3 months (October to December 2018). Although prices fell by 1.6% in a month.
Managing Director Russell Galley commented: “There is less property for sale and fewer buyers, combined with buyers having to save for deposits before being able to apply for a mortgage it is a challenging time. Also Brexit uncertainty still looming above us we can only expect slow price growth”.
A subdued market as people sit tight not making any big property decisions in 2019 waiting for Brexit news and the economy still ‘flatlining’.