The prices of housing in the United Kingdom increased in April for the first time this year, intensified by easeing mortgage costs and the constant demand for the buyer. Creditor’s numbers Halifax show that housing prices increased by 0.3% last month, with a 0.5% decrease observed in March and noting the first profits in January.
The Medium in the United Kingdom is now estimated at 297,781 British pounds, compared to £ 296,899 in the previous month.
On an annual basis, prices increased by 3.2%, compared to 2.9% in March – the fastest annual growth rate so far this year.
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Amanda Breeden, Head of Halifax mortgages, said: “UK housing prices increased by 0.3% in March, which is an increase of just under 900 pounds.
Braden attributes partly the increase of a storm from the activity earlier throughout the year, as buyers seek to defeat changes in the gene.
“We know that changes to the coat of arms caused a leap in transactions earlier this year, as buyers rushed to beat the deadline for taxes. However, this did not lead to a significant increase in property prices, with the last six months characterized by prices that are rarely observed after the pandemic,” she said.
Despite the monthly fluctuations, prices remain widely equal in the last half-year-only with 48 pounds, according to Halifax.
“Mortgage rates continue to fall, with most lenders now offering percentages below 4%. Combined with a positive profit growth, which has ahead of the wider inflation, these factors have helped constantly improve accessibility for many buyers,” Braiden said.
Looking forward, she added: “Overall, the market continues to be stable, despite the muffled economic environment and the risks of geopolitical development. There will probably be an onset of consumer prices inflation with an increase in household bills, but with a further decrease in base rates, we also expect a similar tendency to grow in this year.”
Northern Ireland led the growth of the United Kingdom Home prices with an annual increase of 8.1%, raising the average price of property to £ 208 220. Wales followed with prices by 4.7% annually up to an average of 229,079 British pounds, while Scotland increased an increase of 4.6% to 214 011 British pounds.
Among the English regions, the Northwest reported the strongest results, with housing prices rising by 4.1% annually to an average of £ 240 975.
London continued to see muted growth, which is only 1.3% a year. However, it remains the most expensive home market in the UK, with the middle property worth £ 543 346. The southwest registered the most slow annual price increase of 0.9%, with an average prices being £ 304 451.