Charlotte Edwards
BBC company
Getty images
Housing prices in the United Kingdom have reached another record with the average real estate price reaching £ 299 138, said Halifax.
The largest mortgage lender in the United Kingdom, which is part of the Lloyds Banking Group, said that the values of the properties were recovered in January after seeing a slight drop in December.
Annual prices growth has slowed 3.0%, which has been the lowest rate since July 2023, but Halifax said the market showed “remarkable” resilience.
Amanda Bryden, head of mortgages in Halifax, said that there was “a high demand for new mortgages and loan growth”, which could be motivated by new buyers trying to conclude agreements before an increase in stamp law in April.
In the October budget of last year, Chancellor Rachel Reeves said that a reduction in stamp rights in England and Northern Ireland would end in April of next year.
The changes will notify that house buyers will begin to pay stamp duties on the properties of more than £ 125,000, instead of more than £ 250,000 for the moment.
The first buyers are currently paying no stamp rights on houses up to £ 425,000, but this will increase to £ 300,000 in April.
Jonathan Hopper, Director General of Garrington Property Finders, said: “The traditional rebound in January has not disappointed. After several property portals reported that record boxing traffic and a surprise leap in the number of mortgages approved in December, business was lively in a large part of the large part of the real estate market last month.
However, he thinks that the registered leap of prices at the national level is “misleading”.
“Look more closely at the data and it becomes clear that the acceleration of price growth is far from universal-in fact, it has slowed down in two thirds of the United Kingdom nations and regions,” said -It declared.
Where do prices increase the fastest?
London remains the most expensive place in the United Kingdom to buy a house, the average property costing £ 548,288, up 2.8% compared to the previous year.
The properties in Northern Ireland experienced the highest increase in annual prices of 5.9%, with an average property now at £ 205,473.
The prices of housing in Wales increased by 3.6% compared to last year, the value of properties reaching an average of £ 227,397.
In England, the Northeast has replaced the northwest as the stronger annual growth, with values increasing by 5.2% to £ 178,696.
Scotland experienced a drop in the increase in prices of housing overall, up 2.4%, the properties now cost an average £ 210,690.
The data on the prices of Halifax housing is based on its own mortgage loans, which do not include buyers who buy houses with species or purchase offers. Buyers in cash represent approximately a third of housing sales.
