How much is your house worth?
The Spring bounce has arrived in the property market, according to Halifax.
The bank’s latest house price index shows that prices increased by 0.4% in March compared with February – and 8.1% compared with March of last year.
It means the average house price nationwide is now £192,970 – pretty close to the Nationwide’s figure of £189,454 for the same month.
Although the Halifax didn’t include a breakdown of towns in its latest index, a report from Hometrack at the end of last year placed the average for Portsmouth at £195,200 – and that should have gone up slightly over the past quarter.
The Halifax index did, however, reveal that the national pace of growth in March had slowed a little. Although prices were 8.1% higher in March 2015 than March 2014, that was slightly lower for the 8.3% increase for February 2014 to February 2015.
That’s not necessarily a bad thing as it shows the property market remains strong and stable.
We’ve gained an insight into the health of the market through our expert surveys and wide range of property related services.
Demand has increased, especially for surveys for homebuyers and people seeking to remortgage, while other customers are using our architectural design services to extend or renovate their homes.
With historic low interest rates and highly competitive mortgage rates, the property market is still a key influence in driving sectors of the local and national economy.
We expect the demand to continue although, of course, the only spanner in the works creating a certain amount of uncertainty is the general election…
The Spring bounce has arrived in the property market, according to Halifax. The bank’s latest house price index shows that…