UK Housing market showing greater resilience than expected

Speaking after the release of the latest Halifax House Price Index, Roxana Mohammadian-Molina, Chief Strategy Officer at leading peer-to-peer property lending platform BLEND Network, comments: “The UK housing market is showing a greater degree of resilience than perhaps many may have expected given January’s 2.9% monthly fall. In fact, that house prices have bounced back so strongly in February is a little surprising, but it may also simply be due to the fact that January is always a relatively quiet month for the property market.

“The very large monthly swing in property values looks somewhat dramatic but the better measure of annual house price growth at 2.8% suggests the UK housing market is still healthy, even if the increase in property values is less robust compared with 2015 or 2016. The number of property transactions in January, at a little over 100,000, also supports the notion that the property market is fighting fit.

“Continuing high demand and lack of housing stock is likely to continue to help maintain property values, as is the currently stable interest rate environment, at least for the time being.”