The Halifax House Price Index for March 2013 reports a slightly different picture to that of the Nationwide HPI also released recently. Where as Nationwide saw a static market, Halifax has on the other hand seen an increase in the average house price in March.
Where as Nationwide saw a static market, Halifax has on the other hand seen an increase in the average house price in March.
- Average house price is 1.1% higher for the first three months of 2013, compared to same time last year – the third successive increase in this measure.
- Prices in the three months to March were 1.2% higher than in the final three months of 2012 – the fourth consecutive rise in this annual measure.
- House prices increased by 0.2% in March – following a 0.5% rise in February.
Commenting, Martin Ellis, housing economist, said:
“The housing market continues to show signs of modest improvement. Prices in the first three months of 2013 were 1.2% higher than in the preceding quarter (fourth consecutive increase). Prices were 1.1% higher than in the first three months of 2012. House sales also continued to rise, according to the latest industry-wide figures.
“Weak income growth and continuing below-trend economic growth are likely to remain significant constraints on housing demand during the remainder of this year. Overall, we expect to see a modest increase in UK house prices during 2013.”