House prices to strengthen by 1.5%

House prices to strengthen by 1.5%

Year-over-year growth in house prices to strengthen to about 1.5% by the end of this year, given that households’ real incomes still are rising at a solid rate, while the recent decline in interest rate expectations should reduce mortgage rates soon.

He says industry-wide figures suggest there has been no real change in the number of homes being sold month to month, while Bank of England data shows the number of mortgages being approved rose by almost 6% in April, reversing the softness seen in the previous month.

That’s after the Halifax’s house price index showed a 5.2% increase in average house prices over the last year – the fastest growth seen since 2017.

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