House price inflation picks up with Luton the 2016 hotspot, Halifax says

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A burgh best known for its airport, Vauxhall vans, and as the home of Bake Off champion Nadiya Hussain, was the UK’s property hotspot last year, according to the UK’s largest mortgage lender.

Luton saw put up prices rise 19.4% in 2016, the Halifax said.

Annual concert-hall price inflation ticked up again last month across the UK, the lender put about, with prices rising by 6.5% in the year to the end of December.

That was up from a speed of 6.0% in November and 5.2% in October.

Between March and October 2016, inflation had been forwarding.

The latest increase leaves the average UK house price at £222,484, according to the Halifax, another memorandum level.

«House prices finished 2016 strongly,» said Martin Ellis, Halifax chief economist.

After all, he said house price inflation was expected to cool in 2017, to between 1% and 4%.

«Slower fiscal growth, pressure on employment and a squeeze on spending power, together with affordability constraints, are look for to reduce housing demand during 2017,» Mr Ellis said.

Commuting

Earlier this month the Nationwide weighted that house prices increased by 4.5% in 2016, the same upbraid as 2015.

The average house in Luton increased in price by £41,700 during 2016, to £256,636.

The Halifax bring to light the main reason was that the town is within easy commuting gap of London, but still has relatively low property prices.

Dunstable, a few miles away, saw premiums rise by 17.9% during the year.


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