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

House price inflation at lowest since 2013

Written by: Owain Thomas
House price inflation has slowed for 12 consecutive months and is now at its lowest rate since 2013, according to the Your Move England and Wales House Price Index.

In the year to February, prices rose just 2.4% with the average house price in England and Wales costing £297,832.

Your-Move-Index-130317Estimated transactions in England and Wales in February were also down 0.4% on January at 62,000 but the year-to-date remained higher than in 2015 and 2013. (Click for larger graph image)

However, in February prices grew at their fastest monthly rate (0.6%) since October.

The estate agent noted that a strong start to the year for house prices was not yet reflected in annual figures, which suffered when compared to the previous year due to price spikes ahead of the last April’s Stamp Duty hike.

“When these drop out of the calculation in a couple of months, though, we hope to see the more positive trend,” it added.

Around the country, Merseyside and Birmingham experienced their peak prices – up 5% and 6.2% respectively – while the east of England saw the highest prices rises, up 5.9% over the year.

The North East was the only region that saw prices fall over the year (down 0.2%) although they held steady in February.

The housing market also remains unstable.

Despite annual price growth of more than 4% in the North West and West Midlands, both regions saw price falls from January to February.

Your Move and Reeds Rains managing director Oliver Blake said it was an encouraging start to 2017.

“The good news is that the number of first-time buyers grew last year and house building was up – although home ownership is now at its lowest level in over three decades.”

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.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

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...

Money Tips of the Week