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Halifax house price index - November 21

ended 06. December 2021

Another day, another house price index. Tomorrow (Tuesday) morning at sparrow's fart the Halifax is publishing its November HPI. It will contain the usual dross, namely a lack of supply supporting prices, interest rate rises and the soaring cost of living a worry, the Omicron threat blah. You know what to do. Oh, and do it with panache and I'll pin ya!

4 responses from the Newspage community

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Rob Peters
Principal at Simple Fast Mortgage
"First-time buyers looking to access the property market may get their Christmas wish early as the unbounded rise in house prices finally starts to temperate. We have already seen buyers interest tailing off now thoughts are moving to festivities and plans for 2022, although the sparse availability of stock is clearly supporting prices. The proof will be in the December pudding when the Bank of England Committee meets to decide whether to increase interest rates or not. With widespread predictions of an imminent increase to curb rising inflation, December will set the tone for how the property market enters 2022."
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Imran Hussain
Director at Harmony Financial Services
"First-time buyer demand is as high as it's ever been and lenders remain willing to offer mortgages to creditworthy borrowers so unless the Omicron variant creates a serious Black Swan event this looks set to continue."
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Graham Cox
Director at Bridging Hub
House price rises may reverse very soon. The Bank of England meets on Dec 16th and could well raise interest rates to put a lid on soaring inflation. Throw in the uncertainty around Omicron, and there's every chance of a severe hit to consumer confidence. A second Stamp Duty holiday to support prices and house builders also seems unlikely at this point.
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Scott Taylor-Barr
Principal Adviser at Barnsdale Financial Management
"House price growth has been strong throughout 2021, but 2022, as things stand right now, could deliver the ultimate curveball. While many homeowners can sit back and enjoy the increasing value of their primary asset, those dreaming to buy are experiencing an increasingly vivid nightmare. Recent data from the Yorkshire Building Society indicated that first-time buyers could now be looking at nine years to save the 5% deposit they would need to buy a property at the UK's average house price, with only serious sacrifices made to reduce this timeframe."