The latest house price reports suggest that prices have remained reasonably flat over the last month.

The latest Halifax House Price Report stated that there was a monthly reduction of -0.1%, although there has been quarterly growth of +1.0% and annual growth of +2.9%.

Amanda Bryden, Head of Mortgages at the Halifax said –

“February’s figures highlight the delicate balance within the UK housing market. While there’s been talk of a last minute rush on new mortgages ahead of the changes to stamp duty, inevitably we’ve seen some of the demand that was brought forward start to fade as the April deadline ticks closer, given the time needed to complete a purchase.”

She went on to say –

“While house price growth has slowed overall, market activity remains strong and comparable to pre-pandemic levels, demonstrating a resilience amongst buyers that’s been evident in the face of higher borrowing costs.”

The latest Nationwide report made better reading for home owners.

It stated that there was growth of +0.4% with an annual change of +3.9%.

Robert Gardner, Nationwide’s Chief Economist commented –

“Housing market activity has also remained resilient in recent months, despite ongoing affordability challenges. Indeed, the second half of 2024 saw a noticeable pick up in total housing transactions, which were up 14% compared with the same period in 2023.”

However, taking 2024 as a whole, transactions were still modestly (6%) lower than the levels prevailing before the pandemic struck in 2019.

The latest Hometrack report, which focuses on regional prices, reported an annual figure of +1.9%.

Richard Donnell Executive Director said –

“The housing market is resilient, supported by faster growth in average earnings. There are the most homes for sale in 7 years, which will keep price inflation in check. Are canny buyers missing opportunities in the flats market?”

The latest Rightmove report, which focuses on asking prices, said that the average price for a property coming to the market had increased by +1.1% to £371,870.

Colleen Babcock, property expert at Rightmove said –

“Historic averages show that this March is likely to be one of the strongest months of the year for sellers to spring into action. However, sellers can’t just rely on these historic averages for success, as this year they are facing a decade-high level of competition.”