Housing market kicks off 2025 with price rise to hit new record high
Figures from the latest Halifax House Price Index show house prices increased by +0.7% in January following a dip of -0.2% in December. This pushes the average property price to a new record high of £299,138.
Halifax says despite geopolitical uncertainties, and waning consumer confidence, other key indicators look fairly positive for the housing market. The Bank of England has made its first base rate cut of the year, and there are probably more to come. Also household earnings are expected to continue outpacing inflation – albeit that gap may narrow – easing some of the financial pressure still being felt from the cost-of-living squeeze.
Amanda Bryden, Head of Mortgages at Halifax, said: "As things stand, mortgage rates are likely to hover between 4% and 5% in 2025, influenced by both global financial markets and domestic monetary policy. Over the past year, buyers have been getting used to this new normal, understanding that rates are unlikely to return to the historical lows of 1%.”
Call Trinity Financial on 020 7016 0790 to confirm how much you can borrow and the most competitively priced rates. You can also book a consultation or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
