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Highlights
- The average UK house price has increased for the eighth consecutive month in February 2022, with the yearly price growth rate rising to 10.8%.
- The price rise in February this year marks the largest one-year cash growth recorded in around 40 years of Halifax’s index history.
The UK housing market has been booming lately and the average prices of houses are skyrocketing. According to the latest figures released by Halifax, the average UK house price has increased for the eighth consecutive month in February 2022, with the yearly price growth rate rising to 10.8%. This is the highest rate of price growth recorded since June 2007.
The UK housing market has been holding out against all the economic situations and has boomed during the pandemic phase for two years. The average house prices have been steadily moving up, and have soared by an additional 0.5% in February, representing a weekly increase of £370.
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As compared to the February 2020 level, there has been a hike of over £38,000 in the price of a standard UK house, of this, £27,200 has been added to the price over the past year only. As per reports, the price rise in February this year marks the largest one-year cash growth recorded in around 40 years of Halifax’s index history.
Here are 5 UK housing stocks that may get affected due to the soaring house prices.
RELATED READ: Safestore, Property Franchise: Stocks you may buy amid rising house prices
Safestore Holdings Plc (LON: SAFE)
The market cap of the FTSE250-listed company, Safestore Holdings Plc, stands at £2,456.10 million as of 8 March 2022. Safestore Holdings plc’s shares were trading at GBX 1,194.00, up by 2.49%, at 1:33 PM (GMT) on 8 March 2022.
The self-storage group has provided a return of 59.97% to its shareholders over the last one year as of 8 March, however, its performance has deteriorated this year with its year-to-date return standing at -15.59%.
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Harworth Group PLC (LON: HWG)
The market cap of Harworth Group Plc stands at £492.15 million as of 8 March 2022. Harworth Group plc’s shares were trading at GBX 156.50, up by 2.62%, at 1:41 PM (GMT) on 8 March 2022.
The land and property regeneration firm has provided a return of 28.74% to its shareholders over the last one year as of 8 March 2022, however, its value has gone down this year with its year-to-date return standing at -11.67%.
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Property Franchise Group PLC (LON: TPFG)
The market cap of the AI-listed company, Property Franchise Group PLC stands at £97.09 million as of 8 March 2022. Property Franchise Group plc’s shares were trading at GBX 284.00, down by 6.27%, at 1:45 PM (GMT) on 8 March 2022.
The real estate properties manager has been performing decently and has provided a return of 43.08% to its shareholders over the last one year as of 8 March 2022, however, its year-to-date return stands at -10.33%.
Note: The above content constitutes a very preliminary observation or view based on industry trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
