The Halifax house price index says house prices jumped 1.7 per cent in June and 3.3 per cent over the past three months.
This comes on top of other news this week suggesting a summer bounce for the housing market - Connells has reported a surge in valuations, while financial analyst Equifax Touchstone has figures showing residential owner occupier borrowing up two per cent in April, the latest data available.
"House prices in the three months to June were 3.3 per cent higher than in the preceding three months. This measure of the underlying rate of house price growth picked up following two successive falls” explains Martin Ellis, Halifax’s housing economist.
“Annual house price growth also increased to 9.6 per cent [in June] from 8.6 per cent in May and is at its highest since September 2014” he says.
“Supply remains very tight with the stock of homes available for sale currently at record low levels. This shortage has been a key factor maintaining house price growth at a robust pace so far in 2015. Economic growth, higher employment, increasing real earnings growth and very low mortgage rates are all supporting housing demand with signs of a recent modest pick-up in demand.”
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With tens of thousands of landlords worried about a 20% tax increase on their mortgage payments, you might find lots of houses coming onto the market. Increasing supply and acting as a break on pricing.
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