House prices still improving
The latest Halifax House Price Index shows that house prices in the first three months of 2013 were 1.2% higher than in the final three months of 2012, the fourth successive increase in this measure.
The Index also shows that prices in the three months to March were 1.1% higher than in the first months of 2012.This was the third consecutive rise in this annual measure.
Commenting, Martin Ellis, housing economist, said: “The housing market continues to show signs of modest improvement. Prices in the first three months of 2013 were 1.2% higher than in the preceding quarter (fourth consecutive increase). Prices were 1.1% higher than in the first three months of 2012.
“House sales also continued to rise, according to the latest industry-wide figures.
“Weak income growth and continuing below-trend economic growth are likely to remain significant constraints on housing demand during the remainder of this year.
“Overall, we expect to see a modest increase in UK house prices during 2013.”