There was little change in UK house prices in February, according to Halifax, with only a slight monthly dip of -0.1% recorded. The average house price dropped by just £213 to £298,602 on an annual basis.
There is no doubt that the end of the stamp duty deadline has brought a flurry of activity as buyers rush to complete their purchases before the end of March. The result has been an increase in mortgage applications. The market is still strong, and buyers have been able to factor in higher mortgage payments.
However, the question of affordability remains, and the fact that demand still outstrips the supply of homes suggests further price rises during 2025.
