House prices, Lloyds, pensions and credit cards

If you’re still lamenting the fact that Christmas is over and you’re back at work, there’s some positive financial news this morning. According to Halifax, house prices increased by 6.5 per cent last month compared to December 2015. It seems that Brexit worries have yet to hit the UK housing market. Halifax also said that the average house price was £222,484 in December, up 1.7 per cent on November, a bigger rise than had been expected. For the final three months of 2016, house prices were 2.5 per cent in front. According to the BBC, Martin Ellis, housing economist at Halifax, predicts that ‘while demand will wane this year, house prices will continue to be supported by a shortage of homes on the market’. He added: ‘Slower economic growth, pressure on employment and a squeeze on spending power, together with affordability constraints, are expected to reduce housing demand during 2017’. In other housing news, The Telegraph reports that soaring house price growth in commuter hotspots can pay for a season ticket in as little as eight days.