Halifax House Price Index: UK house price growth hits lowest rate this year with no signs of a seasonal lifeline
The latest index shows a slow but steady increase of 0.9% annually, although this is the lowest rate of growth so far this year.
Director of Benham and Reeves, Marc von Grundherr, commented:
“Perhaps a tad predictable that as we receive yet another Brexit based encore from Westminster, the UK housing market also delivers the lowest rate of house price growth so far this year.
Political uncertainty seems to be sucking any seasonal lifelines from the current property landscape with no signs of an Autumn bounce and, with Brexit repacked and on hold until December, it’s unlikely we will see a Christmas miracle to help revive market activity either.
However, while home sellers hold tight and choose to revel in seasonal festivities rather than enter the property mix, the UK housing market will remain dormant but defiant, until such time we chisel away the ice of political uncertainty. At which point the slow but consistent levels of growth seen this year will start to accelerate once again.”