Propertymark Response to Halifax House Price Index

In response to the Halifax’s latest House Price Index, Nathan Emerson CEO at Propertymark comments:

“It is positive to see that house prices have gone up gradually, especially as borrowing costs are being affected by higher interest rates on mortgage affordability. Before 2023 ended, the Bank of England’s decision to maintain interest rates should be providing further confidence to buyers looking to make their next or first home move in 2024. We would now hope that the the Bank of England gradually starts slashing interest rates in order to further to stimulate growth in the housing market.”