Tag: Legal & General Housing Partnerships
Jeremy Duncombe, director, Legal & General Housing Partnerships said: “The first interest rate rise in a decade has evidently had only a limited impact on annual price growth, with prices continuing to rise in November.”
This represented a slight increase from 2015’s total of 1.23 million but was still well below the 2007 total of 1.61 million.
In 2016 there were 354,000 homemover transactions, 12% more than the lowest point of the recession in 2009 but 50% less than the 712,000 recorded in 2006.
The strongest growth was again reported in the West Midlands and North West as it was in October.
The number of completions also rose by 6% from Q2.
South East drives demand
Activity increased in January with the market making a strong start to the year, the Bank of England’s Money and Credit report has found.
House price growth reached 6.4% in the year to December 2015 with London and the East of England leading the way.