Halifax Price Index slows to 0.9% annual growth

The latest Halifax Price Index has just been released showing house prices in October were 0.9% higher than in the same month a year earlier.

However, on a monthly basis, house prices fell by 0.1%.

In the latest quarter house prices were 0.2% higher than in the preceding three months of May to July.

Russell Galley, Managing Director, Halifax, said: “Average house prices continued to slow in October, with a modest rise of 0.9% over the past year. While this is the lowest growth seen in 2019, it again extends the largely flat trend which has taken hold over recent months.

“A number of underlying factors such as mortgage affordability and wage growth continue to support prices, however there is evidence of consumers erring on the side of caution.

“We remain unchanged from our view that activity levels and price growth will remain subdued while the UK navigates political and economic uncertainty.”