The good news stories just keep coming for the housing market, despite what the mainstream media might have us believe. As my dad used to say when I was a kid, “good news doesn’t sell”. In light of Halifax’s announcement this week, it seems that the old adage is true.
The monthly House Price Index has reported a 0% change, meaning that the market has stabilised after two months of falling figures.
Interestingly the annual rise is still on the positive side of “0” at 1.9%. Our article last week seems to have been on the money.
Kim Kinnard, director of Halifax Mortgages says, “The start of 2023 has brought some stability to UK house prices, with the average house price remaining largely unchanged”.
Coupled with (mortgage) interest rates not rising, despite the misleading headlines about the Bank of England Base Rate increasing, the future for those upsizing or jumping the first rung of the ladder looks stable, and for those downsizing there is less risk of their property equity diminishing further.
If you are looking for a quick valuation online then click here for an estimate in under 59 seconds, alternatively if you’d like a chat about the value, presentation and ways increase the value/sale-ability of your property then contact me here.
Anthony Codling, CEO at Twindig commented ““Whilst some seem to be taking delight in falling house prices and looking forward to a house price crash, the housing market is not following that particular script”.
Jason Tebb, CEO at OnTheMarket, says: “Seasonal factors are increasingly evident compared to the previous two years in when the pandemic skewed the market cycle.
“Our own data shows that sellers expect it to take slightly longer to sell their homes than has been the case in recent months, which ties in with this, although confidence remains remarkably stable”.
If you are looking for a quick valuation online then click here for an estimate in under 59 seconds, alternatively if you’d like a chat about the value, presentation and ways increase the value/sale-ability of your property then contact me here.
Thank you to “The Negotiator” magazine for the quotes, the original article can be found here.