Hennessy Bowie Solicitors News
Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly,
Latest Halifax House Price Index
House prices in the first three months of 2013 were 1.2% higher than in the final three months of 2012, according to the latest Halifax House Price Index.
Commenting on the figures, Martin Ellis, housing economist, said:
"The housing market continues to show signs of modest improvement. Prices in the first three months of 2013 were 1.2% higher than in the preceding quarter (fourth consecutive increase). Prices were 1.1% higher than in the first three months of 2012. House sales also continued to rise, according to the latest industry-wide figures.
"Weak income growth and continuing below-trend economic growth are likely to remain significant constraints on housing demand during the remainder of this year. Overall, we expect to see a modest increase in UK house prices during 2013."
Other key facts in the Index include:
- House prices increased by 0.2% in March. This followed a 0.5% rise in February.
- Home sales increased by 5% between January and February on a seasonally adjusted basis, according to the latest industry figures. Sales in February, at 85,710, were 10% higher than in February 2012. The number of mortgage approvals for house purchases – a leading indicator of completed house sales – however, fell by 5% between January and February to its lowest level since September 2012.
- The chancellor announced a package of housing measures in last month's Budget consisting of two elements – Help to Buy: equity loan and Help to Buy: mortgage guarantee. The aims of the package are to: (i) increase the supply of low-deposit mortgages for credit-worthy households, (ii) boost levels of housebuilding and (iii) contribute to economic growth.
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