The lender, Halifax, is expecting a steady year ahead concerning house prices.  Announcing recently in a report that with the 1.3% increase in the average house price in December they believe the housing market will experience a steady and stable market for the year.  The average house price for the quarter ending in December was reported at £163,845.  The month’s housing market revealed an increase for the first time in seven months.  Over the course of last year it was revealed a split of six months reporting of increases in the average house price and six months of decreases.

Martin Ellis, economist with Halifax, said, “We expect continuing broad stability in house prices nationally in 2013, with prices likely to end the year at levels close to where they begin.”

Confidence in the coming year was expressed in the fact that it appears the Bank of England’s Funding for Lending scheme is having a positive impact.  By helping lenders to continue offering low interest rate loans the market has been kept from having the decline that would likely have occurred had interest rates kept rising.  Halifax is issuing a bit of optimism for the coming year in the expectation of a steady year versus any expectations of a bumpy year ahead which was the expectation of last year.

The Funding for Lending scheme has continued to keep interest rates low for homeowners seeking a remortgage.  While at the beginning lenders were seeking out those borrowers that had higher equity levels and the very best credit histories they have loosened up and are now seeking borrowers outside that circle.  Deals continue to be attractive with low interest rates now at lower deposit or lower equity requirements.