Price growth to slow during 2017
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.