Allow Landlords to evict tenants where there are 14 days rent arrears14:34 PM, 1st October 2020
About 3 weeks ago 97
As usual with so many competing publications we try to normally report on the mortgage industry benchmark of the Halifax House Price Index as used by many lenders.
– Prices in the three months to December were 1.3% higher than in the same three months a year earlier. Up from the 0.3% annual growth rate recorded in November
– House prices in the latest quarter (October-December) were 0.4% lower than in the preceding three months (July – September)
– On a monthly basis, house prices increased by 2.2% in December, following a 1.2% fall in November
– The average house price is now £229,729
Russell Galley, Managing Director, Halifax, said:
“In December the average cost of a home was £229,729 and annual house price growth stood at 1.3%. A stronger monthly growth figure for December improved from a weaker November. Overall, house price growth in 2018 was very much within the range of 0-3% as we forecast at the start of the year.
“In 2019, we’re expecting continued stability in house prices with between 2% and 4% price inflation. This is slightly stronger than 2018, but still fairly subdued by modern comparison. However, this expectation will clearly be dependent on the Brexit outcome, with risks to both sides of our forecast.
“Of course, there are a number of other factors that will impact the market in 2019. The need to raise a significant deposit still acts as a restraint for those looking to buy a new home, limiting the number of potential purchasers.
“This year, mortgage payment affordability is more difficult to predict. There are competing pressures with signs of positive annual pay growth supporting affordability, but risks associated with the potential for higher interest rates are pulling in the other direction. On balance we do not see affordability pushing house price growth significantly in either direction.
“The shortage of homes for sale and continuing low levels of housebuilding both constrain the supply of houses, and in turn support high prices, which will continue to inhibit demand in 2019.”
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