Nigel Glossop, Managing Director of Life Financial Services comments on the Halifax House Price Index January 2019:

“The Halifax report suggests that, for the most part, the UK housing market performed within expectations for 2018 and has remained stable overall. Given the current political and economic headwinds, this is reassuring news.

Data released from Halifax indicates a small year on year increase in average prices in December, together with an average month on month rise. This is more positive reading than the Nationwide’s report which was released previously.

Going into 2019, we have seen many lenders cut their mortgage rates over the last few days which has perpetuated a more competitive market place. This is likely to be a result of many lenders now being in the final quarter of their financial year and possibly seeking to stimulate new business before they close the books in March.  This lending environment may well support the housing market over the next two or three months whilst clarity on the UK’s departure from the EU is still awaited.”

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Correct at time of publication. The views and opinions expressed herein are those of the individual contributor and do not necessarily reflect those of the Chancellors Group of Estate Agents Ltd or its subsidiaries. References to legislation, best practice and other matters with legal implications such as fees, rules and processes are included for information and editorial purposes only and are not authoritative, nor should they be interpreted as advice. When in doubt you should only take advice from an industry professional or solicitor where appropriate. E&OE.