Feb 2016 House Price Infographic
Feb 2016 House Price Infographic indicates house prices are up on average 1.0% in the past month and up on average 6.7% in the past year
- Feb 2016 House Price Infographic indicates house prices increased on average 1.0% in the past month; the biggest rise we have seen since Mar 2014. The average annual rise in house prices climbs to 6.7%.
- UK home sales are up 1.9% between November and December and up 11.6% year on year (seasonally adjusted HMRC).
- Early signs that planned stamp duty increases on Buy-to-Let and second homes are already helping first-time buyers. The number of instructions with two bedrooms or fewer is up 6.6% year on year according to Rightmove (highest since 2007) and price rises in this sector are static suggesting sellers are keen to shift properties before the changes come into effect.
- Underlying economic conditions: rising employment, wages and continued low interest rates are expected to sustain strong demand and initial activity in the new year suggests that seller enquiries are picking up indicating that 2016 will be an active year in the housing market.
- Shortage of supply expected to be an ongoing issue in 2016 and putting upward pressure on house prices
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<p><strong>Please include attribution to hoa.org.uk with this graphic.</strong><br /><br /><a href=’http://hoa.org.uk/services/house-price-watch/feb-2016-house-price-infographic/’><img src=’http://hoa.org.uk/wp-content/uploads/2016/02/housepricewatch_feb-2016.png’ alt=’Feb 2016 House Price Infograpic’ width=’600′ border=’0′ /></a></p>