The latest report from the Halifax real estate market UK

To the recently published data on the study of real estate market of UK, Halifax House Price Index ( Halifax Index) showed that the growth in property prices slowed somewhat, but, nevertheless, last month growth of prices amounted to 1.4% compared to the previous month.

The report also shows that growth in property prices was 3.6% in the quarter, while the annual growth amounted to 10.2% and the average price of property in the UK amounted to £186322 pound.

If you compare this with the previous report that the June drop was offset by a 1.4 percent rise in July. Since December 2013, the price dynamics is unstable or four months was the fall of prices, first four months the growth of prices.

And when the monthly pattern of price dynamics is unstable, more logical, of course, see quarterly and annual price changes.

The market continues to significantly impact the shortage of new properties for sale. In a situation when the pace of construction of new objects do not correspond to the demand, which is fuelled by economic recovery and employment growth, real estate prices gradually creep up. The situation is further fueled by low interest rates, which add confidence to consumers. However, revenue growth still lags behind growth in consumer prices and inflation, so the market felt the vibrations. The number of sales of houses decreased by 6% compared with its peak in February 2014 and is now approaching the figure of 103000. However, if you compare with last year, the number of transactions in the second quarter of 2014 for the period from April to June was 21% higher than the same period last year.

Growing confidence in the housing market. The latest survey of confidence index – Halifax Housing Market Confidence Tracker indicates – showed that more than half of all respondents believe that in the next 12 months will be a favorable time for growth of real estate sales, and only 32% think that this is an unfavorable time to sell.

This is the highest confidence of the market since April 2011.

® Helen Antre 06.08.2014 g.

Read about the indexes that are used in the real estate sector in the UK:

Price indices for UK property

Index Halifax

Index Hometrac

The Index Of The Land Registry

Index LSL Property Services Acadametrics

Index Nationwide

Index Office for National Statistics

Index Rightmove

Index index