Halifax has released its latest numbers for the month of March today that show annual and quarterly growth.
The annual figures show a 3.8% increase from the same time last year, but they are down from February’s 5.1%. The numbers are up 0.1% quarterly in the three months leading to March, and the month on month change is 0%.
Property expert and Emoov CEO, Russell Quirk, shared his reaction to the latest figures and his insight to what these numbers mean for the year ahead.
The market had shown positive signs out of the blocks for 2017 but it would seem these green shoots of upward property price growth have stalled in the early springtime frost of Article 50. It is also important to note that some natural adjustment in price levels is no surprise given the rapid level of growth seen over the last year, driven for the large part, by a lack of housing stock to meet buyer demand.
The triggering of Article 50 may lead to some further uncertainty in the market as once again UK buyers let the dust settle before committing to a property sale. But this should soon subside and it is likely that the initial upward trend in property price growth seen at the start of the year will continue to blossom over the coming months.Russell Quirk