Annual house price growth eases.

October 7, 2016

Halifax House Price Index (HPI) report for September 2016 headlines ‘Annual house price growth eases further to 5.8%’

House prices in the three months to September were 5.8% higher than in the same three months of 2015.
Prices in the last three months (July-September) were 0.1% lower than in the preceding quarter.

Martin Ellis, Halifax housing economist, said: “House prices in the three months to September were largely unchanged compared with the previous quarter. The annual rate of growth eased from 6.9% in August to 5.8%.

“The housing market has followed a steady downward trend over the past six months with clear evidence of both a softening in activity levels and an easing in house price inflation.

“The reduction in annual house price growth from a peak of 10.0% in March to 5.8% six months later remains in line with our forecast at the end of 2015. A lengthy period where house prices have risen more rapidly than earnings has put pressure on affordability, therefore constraining demand. Very low mortgage rates and a shortage of properties available for sale should, however, help support price levels over the coming months.”

Read the Halifax HPI report September in full click

 

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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