Private Finance comments on ONS House Price Index

Shaun Church, Director at Private Finance, comments on the publication of the ONS House Price Index for March 2019.

“UK house prices have witnessed a springtime boost, defying wider uncertainty to enjoy the uplift that normally comes at this time of year. In good news for first-time buyers, however, this rate of increase is much more moderate than witnessed in recent years.

“With the postponement of Brexit, many buyers and sellers that were previously delaying their property ambitions have decided they can afford to do so no longer. Since the UK’s date of departure from the EU was pushed back until October, we’ve already witnessed a resurgence in activity that will help to add even greater buoyancy to house prices and the wider market over the course of the summer.

“Deal or no deal, Brexit or no Brexit – for now it appears that the property market is progressing regardless. If this new found confidence can be maintained, it should allow the market to return to a stronger state.”

The details from ONS can be found here: ONS House Price Index

Kindly shared by Private Finance