Annual house price growth remained at 9.7% in the three months to February, Halifax’s House Price Index has revealed.
Annual house price growth remained at 9.7% in the three months to February, Halifax’s House Price Index has revealed.
Prices between December and February were 3% higher than the preceding three months, although they dropped by 1.4% on a monthly basis.
Martin Ellis, Halifax housing economist, said: “There are some tentative signs that the supply situation may be beginning to improve.
“Instructions for second hand properties coming up for sale have increased in the past two months and the level of housebuilding increased significantly in 2015.
“Further ahead, increasing affordability issues, as house price increases continue to exceed wage growth, are likely to curb housing demand and cause price growth to ease.”
Department for Communities and Local Government figures show that private sector housebuilding completions in England increased by 7% between quarter three and quarter four 2015. Completions in 2015 were also 20% higher than in 2014.
