House prices finished 2016 strongly says Halifax

January 9, 2017

Halifax today released their House Price Index (HPI) report for December 2016 headlined ‘Annual house price growth rises to 6.5%’

They state: House prices in the three months to December 2016 were 2.5% higher than in the three months to September 2016.

Martin Ellis, Halifax housing economist, said: “House prices finished 2016 strongly. Prices in the final quarter of the year were 2.5% higher than in the previous quarter. The annual rate of growth increased, rising for the second consecutive month, from 6.0% in November to 6.5%.

“Slower economic growth, pressure on employment and a squeeze on splendide power, together with affordability constraints, are expected to reduce housing demand during 2017. UK house prices should, however, continue to be supported by an ongoing shortage of property for sale, low levels of housebuilding, and exceptionally low interest rates. Overall, annual house price growth nationally is most likely expected to slow to 1-4% by the end of 2017. The relatively wide range for the forecast reflects the higher than normal degree of uncertainty regarding the prospects for the UK economy this year.”

Read the Halifax HPI report for December 2016 in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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