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

Estate Agent Talk

Upfront information: homebuyers want confidence as much as speed

What movers want from upfront information, and it isn’t only speed Having a survey, legal pack and chain details before making an offer would help more than eight in ten respondents, according to LRG’s latest sales report Of the 553 who answered the question, 41% said they would offer with more confidence, although not necessarily…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

How Financial Anxiety Drains Entrepreneurial Energy

Financial anxiety can consume the attention and stamina that business owners need for planning, problem-solving and leading a team. A late payment, an unexpected tax bill or a weak sales month may trigger worry long after working hours have ended. Over time, that mental strain affects sleep, concentration and confidence. The answer starts with creating…
Read More →
Letting Agent Talk

How to future-proof a rental property for changing tenant expectations

Over the past decade or so, tenants have become far more discerning. For more and more people, renting is a long-term prospect and today’s tenants expect their homes to be as safe and comfortable as any home they would own themselves. And as legislation around standards and health and safety in the private rented sector…
Read More →
Breaking News

More than a third of homes undergo price reduction

The latest research from GetAgent.co.uk has revealed that more than a third (34.4%) of homes sold subject to contract (SSTC) across Britain’s major cities have undergone an asking price reduction, with this figure climbing to more than half in Bournemouth, raising questions over whether sellers, and their agents, are pricing their properties realistically when first…
Read More →
Breaking News

‘Explosion’ in e-signature use at Land Registry spells progress for homebuying reform

The number of e-signatures used at Land Registry has exploded in the latest quarter — jumping more than ten times in just three months to 643, Novus Strategy can reveal. Qualified Electronic Signatures (QES) are a central plank of the revolution unfolding in homebuying because they reduce friction and save time. It’s a combination of…
Read More →
Letting Agent Talk

The Flats Above the Shop Problem

Why residential property hidden inside commercial ownership keeps causing trouble By Adam Hills, Client Services Director, LRG Living Markets Somewhere in many commercial property portfolios sits a small collection of front doors that was never really part of the plan. Many large and small retailers inherit residential property portfolios by default as part of mixed-use…
Read More →