Halifax House Price Index April 2021
House price growth hit the highest annual growth rate in five years, surging 8.2% in April against a 2.7% rise last year according to Halifax.
On a month-by-month basis, prices rose by 1.4% in April compared with March, with the average house price coming in at £258,204 – up almost £20,000 on a year earlier.
By comparison, Nationwide reported that house prices jumped by 2.1% in April, marking the biggest monthly rise since February 2004. Nationwide data shows annual house price growth increased to 7.1% in April, from 5.7% in March.
Source: Halifax, IHS Markit
Provisional data from HMRC shows that the number of house transactions tipped the highest level. The number of transactions more than doubled on last year, up by 107.9% year-on-year to 180,690 transactions in March (non-seasonally adjusted).
The stamp duty holiday has fuelled urgency in the market alongside a shift in work-life conditions. This comes against a backdrop of a shortage of homes for sale and higher levels of savings among households, which has boosted prices in the housing market over the past year.
Forward looking indicators on sales expectations and house prices point towards sustained growth, at least over the short-term. The latest RICS Residential Market Survey shows that buyer enquiries, house sales and new instructions improved in March compared to February.
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