Halifax House Price Index – UK Regional Breakdown19 Oct 2020 10:41
House prices stage strong recovery in third quarter
Key points for Q3 2020:
? Strongest quarterly increase in prices since
before the financial crisis
? Prices rise by +3.3% on quarter and by 5.5% on
an annual basis
? Midlands and Northern English regions record
strongest inflation rates
? Affordability constraints intensify
“The market was characterised by strong demand
driven by a desire for more space – either as a
reaction of the lockdown or the structural economic effects of increasing home working – and supercharged by a stamp duty cut that has
incentivised vendors and buyers alike to ensure
deals are closed before next spring.
“However, the headwinds facing the market of
greater affordability constraints, increased mortgage rates, and rising unemployment all suggest that current activity and rapidly rising prices are unlikely to be sustained.”