14th May 2019

Halifax records strong house price growth as market momentum starts to build

As the Halifax records strong house price growth, Marc von Grundherr, Director of independent estate agent Benham and Reeves, commented:

“Positive reading for the UK market and while a slightly erratic rate of annual growth may not be proof that we are out of the woods just yet, it certainly does demonstrate the much healthier position we find ourselves in now when compared to this time last year.

"To say that demand for housing has subsided is misleading and not only have transactions remained consistent throughout the start of the year, but buyer demand remains prevalent, albeit more selective than it may have been previously.

"Where the property market is concerned, London has been the driving force behind the recovery of the financial crash and while the capital may have paused for breath at present, it still offers by far the best investment options when looking at the UK market and will continue to do so moving forward."

Founder and CEO of Springbok Properties, Shepherd Ncube, commented: “We’ve now seen three consecutive months of positive quarterly and annual price growth and these more long-term indicators of market health suggest momentum is again starting to build across the UK property sector.

"While current market conditions may not be ideal they certainly could be worse and ten years on from the market lows of the financial crisis it's important to remember this. When considered in this context, Brexit and the resulting market uncertainty has been a mere blip during an otherwise impeccable recovery for the UK market.

"As we enter the spring and summer selling seasons this momentum will continue to build and regardless of how and when we leave the EU, the market will remain robust and continue to thrive despite all that’s thrown at it.”