Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Monday, 9 January 2017

UK house prices +6.5pc in 2016

After a lot of hype surrounding Brexit, UK average house prices surged by 2.5 per cent in the last quarter of 2016 to finish the year up by 6.5 per cent according to the Halifax. 

The average house price increased by £13,500 to a new high of £222,494. 

While mortgage approvals rose by 6 per cent in the three months to November, supply remains wretchedly low with an "acute shortage of stock". 

The strongest annual gains were seen in Luton and Barking & Dagenham.

Halifax's full press release can be found here.

The best performing property market over the past decade and over the past two decades was Cambridge, with London not far behind.