Overview
- Halifax reports the average property price at £301,151 in February, up 0.3% on the month and 1.3% on the year, adding roughly £3,000 since January.
- Growth remains uneven, with gains concentrated in the North while prices fell year on year in the South East by 2.2% and in London by 1.0%.
- Halifax says affordability is still stretched and supply constrained, and Propertymark warns higher prices are pushing up deposits and borrowing hurdles for first‑time buyers.
- Several major lenders, including HSBC UK and Nationwide, raised mortgage rates this week as swap rates climbed on heightened inflation concerns tied to the Middle East conflict.
- Sector strains persist, with senior departures at major housebuilders and Vistry’s shares down 20% after its CEO’s retirement and weaker output linked to last year’s Budget uncertainty.