Halifax HPI - February 2024 - Prices rise for fifth consecutive month

House prices are now, according to the Halifax, only £1800 off their June 2022 peak. Yet, mortgage rates have tripled since then. Something doesn't add up. A rapidly increasing population and soaring rents are no doubt helping to underpin property values, but buyers should still be cautious about overpaying. Halifax themselves warn there could be a market slowdown this year.

It seems our earlier prediction was right - it seems that the general public are growing tired of holding off their property plans and have come out fighting in 2024 regardless of the turbulent mortgage rate situation. This further lift in prices, along with Nationwide's earlier in the week, demonstrates that the doom-mongers that predicted a massive UK property price crash just weren't aware of the underlying demand for decent properties to purchase across the nation.