House prices could go up by £13,500 this year

9 January 2014

The Halifax have announced that by the end of 2014, the average home could be worth £187,000 – that’s a predicted 8% jump over the next 12 months.

For+sale+signs

The Halifax added that monthly figures were often 'volatile', but quarterly figures showed a 1.9% increase- so there’s no doubt that there’s a housing bubble/upward trend continuing this year.

And sales are increasing, too, with the figure hitting the one million mark in 2013 – the highest since everything came crashing down in 2007. The property price index also showed that house sales were up for the seventh month in a row in November.

Of course, with healthy sales and fat profits comes that most precious thing of all - consumer confidence. In a poll by the Halifax, 51% of respondents said they thought 2014 was a good time to put their home on the market.

So, if it's announced today that interest rates are staying put - as they're expected to - then we’ve got ourselves another nice big bubble to live in – which will then BURST and leave us homeless and living in an Aldi carrier bag.

Enjoy it while it lasts!

TOPICS:   High Street News   Home   Economy   Banking   Mortgages

5 comments

  • loishamaltone
    Yay! everybody party and buy a bigger house. Wait a second, doesn't this mean that the next house we buy will also have increased in price, at the same percent rise, meaning the price is shockingly unaffordable in relation to average wages? So unless we all are downsizing, and moving to mozambique or a run down housing estate in bradford this is universally a BAD THING (TM).
  • loishamaltone
    PS The halifax do this every year, just before 'got to buy a house or else' season, and everyone gets in a tizzy. Don't fall for their sneaky wiles Lucy!
  • Milky P.
    Yep, same every year/month and usually wrong but the media never makes a big deal about that. Always sucks a few more thousand people in though..
  • mocmocamoc
    You have to remember it is in their best interest to have a house boom, it'll solve all their problems. Also Halifax are pretty lenient when it comes to lending money. A friend of mine bought a new house but wanted to rent out the old one under the table, so his mortgage adviser set him up with Halifax as they don't check whether you have another house or not. But I'm in the process of selling my house in St Helens and buying another, anecdotally I can see no housing boom, very few viewings, no houses seem to be selling and people flooding the market with homes on the promise of a boom will see a dogfight of people desperately reducing the price or sitting with their house on the market with no interest. In my area, a 3 bed council house is probably worth about £62k, yet people put them on for £100k.
  • The P.
    You're part of the problem Lucy

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment