Housing prices in Britain rose for the tenth consecutive month in April, although growth slowed slightly after a 15-year high in March, according to Halifax.
House prices rose 1.1% month-on-month, up from 1.5% in March and 10.8% higher in April year-on-year, slightly below the 11.2% peak in February. and which was the largest annual increase since June 2007.
Housing prices have so far shown that they are not particularly affected by the squeezing of the cost of living caused by inflation, which stands at a high of 30 years at 7%, despite the growing challenges as prices exceed wage increases.
But that could change soon as the Bank of England forecasts that inflation will exceed 10% by the end of the year and the economy will shrink in the last quarter of 2022.
“The problems facing the wider economy cannot be ignored,” said Halifax CEO.
“The ratio of house prices to income is already at its highest level ever, and with rising interest rates and further inflation pushing the household budget, it is likely that housing growth will slow to the end of the year, “he added.
Source: Capital
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