Halifax has today released it latest UK property house price index. The average house price in the UK in March 2018 was £227,871.
Halifax found that house prices in March were 2.7% higher than in March 2017. This was a surpise jump when compared to last month's slow down in increases of 1.8% up February 2017 to February 2018. In short, house prices actually fell.
Comparing Halifax’s January to March figures, house prices are actually down 0.1% with a decent increase in just the last month of 1.5%
House prices remain relatively flat given uncertainty on Brexit, the economy and long awaited wage growth.
That said, there appears to be a little more certainty with a Brexit transition deal agreed and with unemployment at its lowest rate since 1975 with around 402,000 extra workers on the books since January means that demand is there which will drive wage inflation up and ultimately kick on to property.
Sit tight, you may see further falls but in the words of Mark Twain “Buy land, they are not making anymore”.