Annual rate of house price growth falls to 5.1% in February says Halifax

Halifax House Price Index (HPI) report February 2017 released today headlined ‘Annual house price growth declines to 5.1%’.

They state: House prices in the three months to February 2017 were 1.7% higher than in the three months to November 2016. House prices in the three months to February were 5.1% higher than in the same period a year ago; down from 5.7% in January.

Martin Ellis, Halifax housing economist, said: “House prices in the three months to February were 1.7% higher than in the previous quarter; down from 2.3% in January. The annual rate of growth fell to 5.1% from January’s 5.7%, the lowest since July 2013.

“Housing demand is being supported by an economy that continues to perform well with employment still expanding. Meanwhile, the supply of both new homes and existing properties available for sale remains low. This combination is pushing up prices.

“The annual rate of house price growth has, however, nearly halved over the past 11 months. A sustained period of house price growth in excess of pay rises has made it increasingly difficult for many to purchase a home. This development, together with signs of reduced momentum in the jobs market and squeezed consumer spending power, is expected to curb house price growth during 2017.”

Read the Halifax HPI report February 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.

You May Also Enjoy

Breaking News

New analysis shows majority of estate agents complete HMRC AML registration

Just 5% of branches still need to register More than 24,000 UK estate agency branches have registered with HMRC for money laundering supervision – an increase of around 2,300 branches in just over a year, according to new analysis from client due diligence platform Thirdfort. Some 24,003 estate agent branches across the UK have registered…
Read More
Breaking News

Gen Z could wait until 2044 to buy a home

Getting on the property ladder has never been tougher, and, for Gen Z, it could take up to 18 years to save a deposit in the UK’s least affordable cities, according to new research from Beswicks Legal, comparing 40 urban centres. The figures reveal that in places like Cambridge and London, Gen Z buyers may…
Read More
Breaking News

Pressure on landlords takes shine off BTL rate cuts

Buy-to-let fixed rates dipped to their lowest points since September 2022, and choice rose to a record high, according to Moneyfactscompare.co.uk. However, landlords are facing financial challenges, and rumours of more tax reforms in the Budget could hit investors hard. •    Average buy-to-let fixed rates over two- or five-year have dipped to their lowest…
Read More
Letting Agent Talk

Three steps to pet-proof your property ahead of new pet laws

Landlords across the UK are set for one of the biggest shifts in rental regulation in years as the Renters’ Rights Bill edges closer to becoming law. While the bill aims to give tenants a greater right to keep a pet, a new analysis highlights the stark reality of demand versus supply: with a dog…
Read More
Estate Agent Talk

Budget-Friendly Ways to Boost Property Appeal

Upgrading a property’s appearance doesn’t always require a hefty budget. One of the most impactful yet affordable changes involves refreshing tired flooring, an element that potential buyers and tenants notice immediately upon entering a property. Carpet remnants have become a smart solution for cost-conscious property owners looking to make meaningful improvements, as they offer the…
Read More
Breaking News

Naked tenants, basement brothels and maggot rain

When a company specialises in 24/7 property management support, it’s got to be ready to handle pretty much anything, as can be attested to by Adiuvo, whose managers have, on more than one occasion, received tenant requests that have caused them to pause and say, wait, what? Adiuvo has now pulled back the curtain on…
Read More