Loan Introducer
  • Home
  • News
  • Latest Issue
  • Mortgage Rates
  • House Price Centre
  • Blog
  • Commercial
  • Residential
  • Secured
  • Short Term
  • Unsecured

Time: 0:0

House prices continue to rise

12 April, 2016

By: Ryan Fowler

category: Residential, Secured, Unsecured

0

UK house prices rose 7.6% in the year to February 2016, down from 7.9% in the year to January 2016, figures from the Office for National Statistics show.

Annual inflation was 8.2% in England, 2.8% in Wales, -0.8% in Scotland and 2.4% in Northern Ireland.

Stephen Smith, director of Legal & General Housing Partnerships, said: “These latest figures show that house prices have continued their unrelenting climb into March, and it’s unlikely that we’ll see a change anytime soon.

“With the demand for housing continuing to grow amid a lack of supply, it’s hard to see anything other than more rises to come in the short to medium term.”

Annual house price increases in England were driven by an annual increase in the South East (11.4%), the East (10.3%) and London (9.7%).

Excluding London and the South East, UK house prices increased by 5.0% in the 12 months to February 2016.

On a seasonally adjusted basis, average house prices increased by 0.4% between January 2016 and February 2016.

Smith added: “The UK housing market is paralysed by the mismatch between supply and demand, and unless all parties with a vested interest in solving the crisis make a concerted effort to work together, we will continue to have a dysfunctional market, where the real loser is the consumer.”

In February 2016, prices paid by first-time buyers were 8% higher on average than in February 2015.

For owner-occupiers prices increased by 7.4% for the same period.

UK average mix-adjusted house price in February 2016 was £284,000.


Recent News

Second charge lending up £13.4m

24 November, 2021

Selina Finance ups second charge LTV

22 November, 2021

Pepper Money completes largest second charge securitisation

18 November, 2021

Ryan McGrath exits The Loans Engine

03 November, 2021

Comments are closed.

Polls

Will the next six months see an increase in second charge business?

View Results

Loading ... Loading ...
BACK TO TOP

Blog

Morwell Pokies Opening Hours - 24 Pokies Casino No Deposit B...

20 August, 2021

  • 0

Uptown Pokies No Deposit Codes 2021 | Casinos related to Upt...

20 August, 2021

  • 0

The Top Online Pokies And Casinos In Australia | 5 dragons p...

20 August, 2021

  • 0

Tags

  • ‘The LM Experience’
  • £50m
  • 1st HomeLoans
  • 1st Stop Group
  • 247Moneybox
  • 360 Lifecycle
  • 75% LTV
  • 85% LTV
  • Aaron Noone
  • ABC
  • Abhai Rajguru
  • Access 4 Finance
  • Access4Finance
  • Accord
  • acquisition
  • Adam Tyler
  • Adelle Rhule-Martin
  • Adrian Moloney
  • Advertising Standards Agency
  • Advertising Standards Agnecy
  • Home
  • News
  • Latest Issue
  • Mortgage Rates
  • House Price Centre
  • Blog

© CEDAC Media Limited | Terms & Conditions

Advice to readers

While this website is checked for accuracy, we are not liable for any incorrect information included. We recommend that you make enquiries based on your own circumstances and, if necessary, take professional advice before entering into transactions.


© CEDAC Media: Our Privacy and Cookies Policy

www.mortgageintroducer.com
www.investmentinternational.com
www.homebuying.co.uk
www.propertywire.com
www.everyinvestor.co.uk

Close

Enter the site

Login

Password

Remember me

Forgot password?

Login