UK House Prices Are Generally Stable

Despite the specter of the dreaded capital gains tax rise hanging over us there is good news in that UK house prices seem to be holding stable for now. The banks are showing slightly conflicting statistics but mainly they agree that things are fairly steady.

The Halifax points out that dips in April and February raised some doubts about the strength of a recovery but things have even out since then. Nationwide figures, however, showed a one percent increase in prices in April and this put the annual rate of increase into double figures for the first time in three years.

Chief Executive Graham Bell said “Unless there is a significant spike in interest rates, which we are not expecting, a major dip in prices is unlikely to occur over the next year,”

That is at least good news though many would be looking for something a little stronger such as a predicted increase, even a slight one. I guess the silver lining is the capital gains tax will not bite if there is no gain to tax. People will just be more likely to be patient and sit and wait for prices to begin rising.