UK annual house price growth eases again to 5.2%, says Halifax

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According to the Halifax House Price Index, UK house prices in the three months to October increased by 5.2% compared to the same three months of  2015. House prices increased by 1.4% between September and October. Average UK house price reached to £217,411 in October.

Martin Ellis, Halifax housing economist, said:

“House prices in the three months to October were largely unchanged compared with the previous quarter. The annual rate of growth continued on its recent downward trend, easing to 5.2%.”

“Activity levels, like house price growth, have softened compared with a year ago. Home sales, however, appear to have stabilised in recent
months following the distortions earlier in the year due to the changes to stamp duty in April.”

“Annual house price growth has nearly halved from a peak of 10.0% in March this year, but remains robust at 5.2%. This expected slowdown
appears to have been largely due to mounting affordability pressures, which have increasingly constrained housing demand. Whilst house price growth may ease further in the coming months, very low mortgage rates and a shortage of properties available for sale should help support price levels.”

Source: Halifax

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