Another sharp rise in house prices this month

Commenting on the Halifax House Price Index, Jan Crosby, UK head of infrastructure, building and construction at KPMG said:

“The demand for housing continues to outstrip supply, which is underpinning house prices leading to another sharp rise this month. This is due to a combination of houses selling very quickly and the global supply chain issues with building supplies, which have existed for some time, now being exacerbated by lorry driver shortages. 

“Developers can’t build quickly enough to sell into the strong market - particularly for family housing with outdoor space. There are some tentative signs that sourcing building materials is becoming more straightforward, but lead times can still be very long. Labour availability and wage inflation is now also on the sector’s radar.

“Not only is more housing needed to meet demand, but the focus should be on delivering sustainable, affordable housing.”

ENDS

Notes to Editors
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