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

Strong December pushes 2019’s house price growth to 4%

Written by: Christina Hoghton
Last year ended on a high for property prices, but what does 2020 have in store?

Property prices rose by a significant 1.7% in December, the strongest month of the whole year, according to Halifax.

This took the average price of a UK home to £238,963, which was 4% up on December 2018.

However, the lender noted that the strong growth not only reflected that December had been a particularly strong month, but also that it was being compared to a weak December in 2018.

Russell Galley, managing director of Halifax, said: “Looking ahead, we expect uncertainty in the economy to ease somewhat in 2020, which should see transaction volumes increase and further price growth made possible by an improvement in households’ real incomes.

“Longer-term issues such as the shortage of homes for sale and low levels of house-building will continue to limit supply, while the ongoing challenges faced by prospective buyers in raising deposits will serve to constrain demand. As a result, we expect a modest pace of gains to continue into next year.”

Jonathan Hopper, managing director of Garrington Property Finders, added: “This Halifax snapshot of prices gives the clearest sign yet of a market accelerating back towards normality.

“With the Government determined to limit talk of Brexit to its negotiations in Brussels meeting rooms, the abrupt easing of Britain’s political uncertainty is set to usher in a more free-flowing property market, simultaneously boosting both demand and supply.

“While this is likely to nudge the pace of price growth back up, the dust still needs to settle before real clarity returns. For many buyers and sellers, confidence is battered, but coming back at last.”

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