UK house market active without year end slowdown

increase-rentHouse prices in the UK have got increased by 1.7% in December, without any end of year slowdown. According to latest report, prices are expected to keep rising in 2016. The data from Halifax shows, that year-on-year prices have risen by 9.5% recording Newham in London as the city that had biggest rise in house price among major UK cities in last year.

Martin Ellis, Halifax housing economist says: “However, there is a considerable gap between demand and supply on accordance to the recent data showing a further decline in the number of saleable properties, this situation is unlikely to change significantly in the short term, resulting in continuing upward pressure on prices”.

Jonathan Hopper, managing director of Garrington Property Finders, says: “The overall 2015 ended much as it began with demand which surpassed the supply in many areas driving up prices. Likely, 2016 have had a start with interest rates set to stay low for some time and demand continues to heave. While the Halifax data confirms that in 2015 prices rose fastest in and around London, but early activity in 2016 suggests that demand elsewhere is picking up considerably. The South East does not have the control on low supply and as demand becomes broader, so too should price rises.”

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