Home Peer to Peer Lending UK home costs down 0.2pc year-on-year

UK home costs down 0.2pc year-on-year

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UK home costs down 0.2pc year-on-year

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UK home costs fell by 0.2 per cent within the yr to February 2024, up from a lower of 1.3 per cent within the 12 months to January 2024, in accordance with the newest UK Home Worth Index (UK HPI).

On a non-seasonally adjusted foundation, common home costs within the UK elevated by 0.4 per cent between January 2024 and February 2024, in contrast with a lower of 0.7 per cent throughout the identical interval in 2023.

The UK Property Transactions Statistics confirmed that in February 2024, on a seasonally adjusted foundation, the estimated variety of transactions of residential properties with a price of £40,000 or larger was 82,940. That is 6 per cent decrease than in February 2023.

Learn extra: Make investments&Fund: P2P platforms play key position in reasonably priced housing conundrum

Between January 2023 and February 2023, UK transactions elevated by 1 per cent on a seasonally adjusted foundation.

The best month-to-month home worth enhance was within the Northeast, the place costs elevated by 3.2 per cent within the yr to February 2024. The best annual progress was within the Northwest, the place costs elevated by 2.9 per cent within the yr to February 2024.

London noticed the bottom annual worth progress, with a fall of 4.8 per cent to £503,000 on common. The best variety of repossessions was within the Northwest, the place 16 had been recorded in December 2023.

Learn extra: easyMoney: Property lending market “extraordinarily optimistic”

The UK HPI is predicated on accomplished housing transactions. Sometimes, a home buy can take six to eight weeks to succeed in completion.

As with different indicators within the housing market, which usually fluctuate from month to month, it is necessary to not put an excessive amount of weight on one month’s set of home worth knowledge.

Learn extra: M&G: UK property dip presents alternative for various lenders



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