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5d ago

UK House Prices See Modest April Growth Amid Strong Demand

Halifax reports a 0.3% monthly rise in house prices, with annual growth reaching 3.2%, as falling mortgage rates bolster buyer confidence.

A view of the Canary Wharf financial district and residential houses in London, Britain, January 23, 2025. REUTERS/Hannah McKay/File Photo
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Overview

  • The average UK house price increased by £900 in April to £297,781, reflecting a 0.3% monthly rise after a slight dip in March.
  • Annual house price growth climbed to 3.2% in April, up from 2.9% in March, according to Halifax data.
  • Falling mortgage rates, with many lenders offering sub-4% deals, have improved affordability and supported strong buyer demand.
  • Regional disparities persist, with Northern Ireland, Wales, and Scotland showing robust growth, while London and south-west England remain subdued.
  • Despite the end of stamp duty relief in March, the market has shown resilience, with stable prices and steady activity driven by strong employment and wage growth.