Halifax has just released their latest and last house price index for December 2016 showing house price growth in the UK market remained strong, right up until the end of the year.
Annually, the market saw prices increase by 6.5% and a late flurry in December with prices up 1.7% during the month.
Although a gloomy year ahead has been widely predicted for the market, eMoov CEO and property expert, Russell Quirk, doesn’t believe this will be the case.
A late flourish for the UK housing market at the back end of 2016 sees price growth remain strong which will be welcomed by UK homeowners. It would seem positive news on house prices simply will not go away despite the efforts of some to make us accept that the market will weaken in the wake of EU referendum angst.
As we have said time and again, the UK housing market is fundamentally robust, bulletproof even, and we do not subscribe to the view of the naysayers that we will see price reductions in 2017. The clever money, given today’s numbers, is yet more positive news which will serve to underpin the overall economy this year.
Low money costs, a demand led by an aspirational home owning culture and scant supply, will all ensure that property prices remain buoyant regardless of those using falling prices as a scare tactic for their own personal agenda.Russell Quirk