Price growth to slow dur­ing 2017

Yorkshire Post - Property - - PROPERTY NEWS -

DE­MAND: House prices in the three months to Fe­bru­ary were 5.1 per cent higher than in the same pe­riod a year ago. They were 1.7 per cent higher than in the pre­ced­ing quar­ter. Martin El­lis, Hal­i­fax hous­ing econ­o­mist, says: “Hous­ing de­mand is be­ing sup­ported by an econ­omy that con­tin­ues to per­form well with em­ploy­ment still ex­pand­ing. Mean­while, the sup­ply of both new homes and ex­ist­ing prop­er­ties avail­able for sale re­mains low. This com­bi­na­tion is push­ing up prices. The an­nual rate of house price growth has, how­ever, nearly halved over the past 11 months.” He adds that house price growth in ex­cess of pay rises will curb val­ues.

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