House prices in UK rose by 10.1 percent in Q1 2016 compared to the last year and in the first three months of 2016, UK house prices were 2.9 percent higher than Q4 2015, according to the Halifax House Price Index.
House prices rose by 2.6 percent in March compared to February.UK home sales increase 5 percent between January and February.
“House prices in the first three months of 2016 were 2.9% higher than in the final quarter of 2015.The annual rate has grown from 9.7% to 10.1% in March.” said Martin Ellis, Halifax housing economist.
“Worsening sentiment regarding the prospects for the UK economy and uncertainty ahead of the European referendum in June could result in some softening in the housing market over the next couple of months.”
“Current market conditions, however, remain very tight with an acute supply/demand imbalance continuing despite an improvement in the numberof properties coming on to the market for sale in recent months. This, together with continuing low interest rates and a healthy labour market, indicate that house price growth is set to remain robust.” he added.