Housing demand remains robust across the UK
Jan Crosby comment on Halifax House Price Index
Jan Crosby comment on Halifax House Price Index
Commenting on today’s (7 Sept) Halifax House Price Index, Jan Crosby, UK head of infrastructure, building and construction at KPMG said:
“Housing demand remains robust across the UK with demand continuing to outstrip supply, helping to drive up prices to a record high in August. First-time buyers and existing renters are keen to get on the ladder quickly and this is facilitated through cheap and high Loan to Value (LTV) mortgages along with, for some, savings built up during the pandemic. Moves to the country out of urban areas to continue to be a trend although there is some increase being seen in city apartment markets once again.
“While the overall pace of annual growth continues to slow, the tide of house price inflation remains high, which means we need more solutions for the delivery of affordable housing. Increasingly institutional investors and private equity are looking to invest in residential property - often for rent and shared ownership - and housebuilders are looking to tap into that market through partnerships housing. Supply in these areas will grow, but there is a lot of historic under-delivery of affordable housing to catch up on so it is likely to remain an interesting area for funds for some time yet.”
ENDS
Notes to Editors
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KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 16,000 partners and staff. The UK firm recorded a revenue of £2.3 billion in the year ended 30 September 2020.
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