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

March 7, 2017

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

UK House Price Index for January 2025

The latest index shows that: The average monthly rate of house price growth in January was -0.3%. Average UK house price annual inflation was 1.3% in the 12 months to January 2025. As a result, the average UK house price currently sits at £268,000.   Here are some thoughts from the Industry.   Damien Jefferies,…
Read More →
Breaking News

Exchange time reaches 135 days

Property transactions slow as exchange time reaches 135 days — up 45% on 2019 The time it takes to exchange contracts has risen to 135 days — 45% longer than in 2019 and 3% higher than last year — despite a drop in property transactions year-on-year, it emerged today. Novus Strategy, the transformation consultancy for…
Read More →
Breaking News

Industry response to latest inflation figures and its impact on housing

Industry response to UK inflation remaining at 3%. Nathan Emerson, CEO of Propertymark, comments: “Although inflation has remained steady since last month, it is important to acknowledge geopolitical tensions moving forward, and the effect such pressures may have on many households over the coming months. “Today’s news should help bring a measured sense of consistency…
Read More →
Breaking News

Foxtons Lettings Market Index – February 2026

Seasonal recovery as improved supply and demand indicates a return of market momentum   Lettings market is showing signs of seasonal recovery as we see market activity picking up, with February performance indicating that momentum is returning following a usually quieter winter period. Renter budgets remained broadly stable, averaging £540 per week year to date…
Read More →
to let sign 2025
Letting Agent Talk

The best time to list a rental property in London revealed

Lettings experts at Kinleigh Folkard & Hayward reveal the best time to list a rental property in London to get twice as many enquiries Spring is a natural reset for our homes with a light refresh going a long way to help us feel rejuvenated. A quick coat of paint where walls look tired, fresh…
Read More →
Rightmove logo
Breaking News

Rightmove expert reacts to ONS figures

Colleen Babcock, property expert at Rightmove, said:  “Today’s ONS figures reflect the seasonal uplift we typically see at the start of the year, which mirrors what we’ve already observed in our own January and February data. With the number of homes for sale now at its highest level in over a decade, buyers are benefiting…
Read More →