The Halifax said today house prices in the latest three months (November 2013-January 2014) were 1.9% higher than in the preceding three months (August 2013-October 2013). This is within the range of 1.8 – 2.1% recorded for this measure throughout the preceding eight months to June 2013. Prices in the three months to January were 7.3% higher than in the same three months a year earlier.
This was marginally lower than in December (7.5%) House prices increased by 1.1% in January. This followed a small fall in December (-0.5%). Activity is on an upward trend with housing transactions in 2013 exceeding one million for the first time since 2007. Home sales rose for the ninth successive month in December to 103,040; 30% higher than in December 2012. (Source: HMRC, seasonally-adjusted figures.)
The number of mortgage approvals for house purchases – a leading indicator of completed house sales – was 9% higher in the three months to December than in the previous quarter and 30% higher than in the same three months of 2012. (Source: Bank of England, seasonally-adjusted figures.) Lack of supply coming on to the market adding upward pressure on prices. The number of homeowners providing instructions to put their property on the market for sale increased only marginally at the end of 2013. However, this increase is still some way short of the number of new buyer enquiries. (Source: RICS.)
Yes, the figures are affected by the booming London property market, but the Sheffield housing market has recovered well alongside the positive trend nationally and in early 2014 is very active indeed. Whether you are looking to sell your house, enter the Sheffield Property Market as a first time buyer, or move up the ladder, speak to Belvoir! Estate Agents right at the very start, we can help.
Belvoir! Sheffield is the one stop specialist for Sales and Residential Lettings and Property Management, Investment and Wealth Management Advice, Fit-outs and Renovations, Property Insurances and Mortgages. Belvoir! Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013 and is a multi award winning agency.
For more information, please visit www.belvoirsheffield.com or call 0114 331 0033. Alternatively, please email rick@belvoirsheffield.com
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RE: http://www.stockmarketwire.com/article/4751992/UK-house-prices-up-1-point-9pct-in-last-quarter.html#sthash.d9x82xzN.dpuf
