UK annual house price growth eases again to 3.3% : Halifax

House prices in the three months to May increased by 3.3% compared to the same period of 2016, according to the Halifax House Price Index. Prices in the three months to May were 0.2% lower than in the preceding quarter.

Nationally, house prices in May 2017 were 11% above their August 2007 peak. The average house price of £220,706 is £66,043 (43%) higher than its low point of £154,663 in April 2009.

Martin Ellis, Halifax housing economist, said: “After reaching a recent peak of 10% in March 2016, the annual house price growth has since fallen to 3.3% in May.

“House prices have again fallen over the past three months. Overall, prices in the three months to May were -0.2% lower than in the preceding three months; the same rate as in April.

“The fact that the supply of new homes and existing properties available for sale remains low, combined with historically low mortgage rates and a high employment rate, is likely to support house price levels over the coming months.”

Source: Halifax

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