House­hold fi­nances to limit de­mand

Yorkshire Post - Property - - PROPERTY -

HOUSE prices in the fi­nal three months of 2013 were 1.9% higher than in the pre­vi­ous quar­ter of the year, ac­cord­ing to the Halifax.

“Mount­ing signs that the eco­nomic re­cov­ery is be­com­ing firmly es­tab­lished, to­gether with a pre­dicted de­cline in un­em­ploy­ment, should fur­ther boost con­sumer con­fi­dence over the com­ing months. This will in­crease the like­li­hood that more peo­ple will con­sider buy­ing a prop­erty in 2014, there­fore sup­port­ing hous­ing de­mand,” says Halifax econ­o­mist Martin El­lis, who added a note of cau­tion. “None­the­less, con­tin­u­ing pres­sures on house­hold fi­nances, as earn­ings again fail to keep pace with con­sumer price in­fla­tion, are ex­pected to con­strain de­mand.”

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