Prior +1.4%House prices +10.8% y/yPrior +11.0%UK house prices continue to increase sharply again, posting its tenth consecutive monthly rise – the longest such run since 2016. The average property price reaches another new record high of £286,079. That said, Halifax still argues that prices should cool off later in the year:“For now, at least, despite the current economic uncertainty, the strong increases we’ve seen in house prices show little sign of abating. Demand in the housing market remains firm and mortgage servicing costs are relatively stable with fixed-rate deals making up around 80% of mortgages on homes across the industry, protecting many households from the effects of rate rises so far. “However, the headwinds facing the wider economy cannot be ignored. The house price to income ratio is already at its highest ever level, and with interest rates on the rise and inflation further squeezing household budgets, it remains likely that the rate of house price growth will slow by the end of this year.”
UK April Halifax house prices +1.1% vs +1.4% m/m prior
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