Jason Tebb, Group Chief Operating Officer of Go Develop comments on the Halifax House Price Index (January 2019 data):
“Portraying a different picture to the house price index released last week by Nationwide, this morning’s report from the Halifax suggests a more modest degree of annual house price growth at just 0.8%, and prices going into reverse gear in January on a month-on-month basis. However clearly, this is the macro outlook and as such, the light and shade around the better performing regions which have seen a stellar performance over the last twelve months, such as the Midlands, East Anglia and Yorkshire and the Humber isn’t evident. The likelihood is that the drag factor exerted by the ongoing Sturm und Drang of the property market in London and the South East has somewhat skewed the bigger numbers.
We are confident that once the imbroglio around Brexit has subsided, the pent-up demand which is evident around most of the UK will then create a far more positive environment for the rest of 2019, particularly supported by the benign consumer borrowing climate, as lenders will no doubt wish to encourage new business wherever possible. With this in mind, we’re investing strategically in areas that we believe are placed for significant growth over the next twelve to eighteen months, particularly where there is a requirement for more first time buyer properties.”