And still no Property crash! As usual, despite market turmoil all around with the cost of living crisis and rising interest rates, the UK Property Market continues to cut a lone furrow and grow year on year.
The latest Halifax HPI index for January 2023 shows a definiate stabiliasation of the housing market (1.9% growth year on year). This follows 2 months of single digit decline of 1.3 and 2.4% in November and December 2022 respctively. It’s early days, but these are definiate signs of positivity in the first few weeks of 2023.
Kim Kinnaird Director at Halifax Mortgages states
” The start of 2023 has bought some stability to house prices, with the average house remaining largely unchanged in January at £281,684 a very small decrease in December “