Annual rate of growth picks up for second consecutive month says Halifax

October 6, 2017

Halifax House Price Index report September 2017 released today headlines ‘Annual House Price Growth Rises to 4%.

House prices in the three months to September 2017 were 1.4% higher than in the three months to June 2017.

Prices in the three months to September were 4.0% higher than in the same three months a year earlier.

House prices rose by 0.8% between August and September, following a 1.5% increase in August.

Russell Galley, Managing Director, Halifax Community Bank, said: “The annual rate of growth has picked up for the second consecutive month, rising from 2.6% in August to 4.0% in September. The average house price is now £225,109 – the highest on record. House prices in the three months to September were 1.4% higher than in the previous quarter, the fastest quarterly increase since February.

“While the quarterly and annual rates of house price growth have improved, they are lower than at the start of the year. UK house prices continue to be supported by an ongoing shortage of properties for sale and solid growth in full-time employment. However, increasing pressure on spending power and continuing affordability concerns may well dampen buyer demand. There has been recent speculation on the possibility of a rise in the Bank of England base rate. We do not anticipate this will have a significant effect on transaction volumes.”

Read the Halifax House Price Index report September 2017 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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