Halifax House Price Index slows to 1.5% growth
Prices in the three months to October were 1.5% higher than in the same three months a year earlier, slowing from the 2.5% annual growth recorded in September, and recording the lowest rate of growth since March 2013.
House prices in the latest quarter (August – October) were 0.2% higher than in the preceding three months (May – July).
On a monthly basis, house prices rose marginally by 0.7% in October, following two consecutive monthly falls with the average house price is now £227,869.
Russell Galley, Managing Director, Halifax, said: “The annual rate of house price growth has fallen from 2.5% in September to 1.5% in October, which is the lowest rate of annual growth since March 2013.
“However, this remains within our forecast annual growth range of 0 – 3% for 2018. House prices continue to be supported by the fact that the supply of new homes and existing properties available for
sale remains low.
“Further house price support comes from an already high and improving employment rate and historically low mortgage rates which are creating higher rates of relative affordability. We see this continuing to be the case over the coming months and we remain supportive of our 0 – 3% forecast range.”
Click here to see the full Halifax House Price Index report for October
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Member Since August 2013 - Comments: 161
8:03 AM, 11th November 2018, About 7 years ago
> “The annual rate of house price growth has fallen … to 1.5%”
Given that inflation is currently 2.7%, that means house prices have failed to even keep up with inflation and so have *decreased* 1.2% in real terms.
Member Since April 2014 - Comments: 985 - Articles: 2
12:03 PM, 11th November 2018, About 7 years ago
It will be interesting to see if this is a blip followed by further increase. If property does not achieve more than the rate of inflation, is it time to look at alternative investments and if so what would these be?? We are continually reminded to look at the long term where historically the property market has always bounced back. But it seems unstable and we have yet to feel the influence of Brexit! Are we due another crash? To many factors to consider – who knows?