You are here: Home - Mortgages - First Time Buyer - News -

UK house prices rose in February

0
Written by: Christina Hoghton
01/03/2017
UK house prices continued to rise steadily in February, according to this month’s house price report from Nationwide.

The building society found that property prices inched up 0.6% last month, taking the average UK house price to £205,846 and the annual rate of growth to 4.5%.

Robert Gardner, Nationwide’s chief economist, said: “The annual rate of house price growth was little changed in February at 4.5%, only slightly higher than the 4.3% recorded in January.

“The outlook is uncertain, but we, along with most other forecasters, expect the UK economy to slow through 2017 as heightened uncertainty weighs on business investment and hiring. Consumer spending, a key engine of growth in recent quarters, is also likely to be impacted by rising inflation in the months ahead as a result of the weaker pound.

“Nevertheless, in our view a small rise in house prices of around 2% is more likely than a decline over the course of 2017, since low borrowing costs and the dearth of homes on the market will continue to support prices.”

Tarlochan Garcha, CEO at peer-to-peer property lending platform, Kuflink, added: “Despite a wave of economic uncertainties, upcoming tax changes and the spectre of Brexit, the housing market is standing remarkably stable.

“The predicted unravelling of the property market post Brexit has simply not materialised. But the harsh reality remains that the gap between supply and demand is gargantuan.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
worried family
Five million working people struggle with money worries

Nearly five million working Brits are worried about their financial situation, according to research by consumer group Which?.

Close