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House prices up nearly 10% in a year, Halifax data reveals

July 24, 2015Article by Charlotte Ashton

The latest Halifax House Price Index, covering the period to June 2015, has highlighted good news for property owners – prices have risen by 9.6% in the past year. As well as being a boon to owner occupiers, the news is excellent for buy-to-let investors, who have seen their capital grow while earning regular income from their property.

A good outlook

“It’s been a good year for capital gains,” confirms Ray Withers, Chief Executive of leading property investment specialists Property Frontiers. “Demand is still outstripping supply in the UK and one effect of that is the rise in house prices that we have seen over the past year. From an investment perspective, this is great news. The outlook for the coming year is good for the same reason and we are likely to see a continuation of the high level of interest in the buy-to-let market in the UK.”

The South East of England is Withers’ tip for the year ahead. Brighton, in particular, is on the brink of great things so far as property values are concerned. Ever ahead of the curve, Property Frontiers’ recommendation is the Park View Apartments, facing Preston Park. With just 32 apartments in total, the development offers boutique park-side living for discerning tenants. Prices for a two bedroom apartment range from £330,000 to £420,000.

Top of the charts

Belfast is another hot investment tip so far as buy-to-let is concerned. House prices in Northern Ireland rose by 10.5% in the year to May, according to figures from the Office of National Statistics, faster than in any other UK region and well above the national average. Again, it is a market that Property Frontiers knows well, with its luxury apartments at The Sandford already under construction in Belfast.

With prices starting at £110,262, The Sandford is well positioned to enjoy healthy capital growth over the months and years ahead, as Northern Ireland’s housing market recovery picks up pace. The location, style, design and outlook are all perfect for the city’s young professional tenants, queuing this up to be one of Belfast’s most sought-after residences.

Sustainable growth

The price rises revealed by the Halifax data, or rather the reasons behind them, tell a tale of sustainable and stable growth in the UK, which is part of the market’s mass appeal to investors. As housing economist Martin Ellis comments,

“Supply remains very tight with the stock of homes available for sale currently at record low levels. This shortage has been a key factor maintaining house price growth at a robust pace so far in 2015. Economic growth, higher employment, increasing real earnings growth and very low mortgage rates are all supporting housing demand with signs of a recent modest pick-up in demand.”

For more information about buy-to-let opportunities across the UK, contact Property Frontiers or call +44 1865 202 700.

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