UK House Price Inflation Slows More Than Expected; Weakest Since 2012: Halifax
December 06 2018 - 10:45PM
RTTF2
UK house price inflation slowed more-than-expected in November
to its lowest level since December 2012, figures the Lloyds Banking
Group subsidiary Halifax showed on Friday.
The house price index rose 0.3 percent year-on-year in the three
months to November, after a 1.5 percent increase in the three
months to October. Economists had expected 1 percent growth.
"While this is the lowest rate of growth in six years, it
remains within our forecast range of 0 percent to 3 percent for
2018," Halifax Managing Director Russell Galley said.
"High employment, wage growth and historically low mortgage
rates continue to make home ownership more affordable for many,
though the need to raise a significant deposit still acts as
something of a restraint on the market," Galley said.
"This is largely offset by relatively limited supply of new and
existing properties for sale, which continues to sustain house
prices nationally."
The average house price was GBP 224,578 in November versus GBP
227,694 in October.
Compared to the previous month, prices fell 1.4 percent from
October, when prices grew 0.7 percent. Economists had forecast a
0.2 percent gain for November.
The latest fall was the biggest since a 3.1 percent slump in
April.
Sterling vs Yen (FX:GBPJPY)
Forex Chart
From Feb 2024 to Mar 2024
Sterling vs Yen (FX:GBPJPY)
Forex Chart
From Mar 2023 to Mar 2024