UK April Halifax house prices +0.3% vs -0.1% m/m expected | Forexlive

• Prior -0.5%

Slight delay in the release by the source. UK house prices beat estimates to climb in April, with the average property price moving up to £297,781. Halifax notes that:

“We know the stamp duty changes prompted a surge in transactions in the early part of this year, as
buyers rushed to beat the tax-rise deadline. However, this didn’t lead to a significant increase in property prices, with the last six months characterised by a stability in prices rarely seen since the
pandemic. While the market has cooled slightly since this rush, buyer activity remains strong in
comparison to recent years.

“Mortgage rates have continued to fall, with most lenders now offering rates below 4%. Coupled with
positive earnings growth that has outpaced broader inflation, these factors have helped to steadily
improve affordability for many buyers.

“Overall, the market continues to show resilience despite a subdued economic environment and risks
from geopolitical developments. There is likely to be a bump-up in consumer price inflation as
household bills increase, but with further base rate cuts also expected, we anticipate a similar trend of
modest price growth this year.”