The Halifax House Price Index released last week showed that quarterly house price growth remained below 2%.
House prices in the latest three months (October-December) were 1.6% higher than in the preceding three months.
Prices in the three months to December were 9.5% higher than in the same three months a year earlier.
Commenting, Martin Ellis, Halifax housing economist, said: “House prices in the three months to December were 1.6% higher than in the previous three months. This was the second successive month that this measure has been below 2.0%, indicating a possible slight softening in the underlying rate of price growth.
“There remains, however, a substantial gap between demand and supply with the latest figures showing a further decline in the number of properties available for sale. This situation is unlikely to change significantly in the short-term, resulting in continuing upward pressure on prices.”
To see Halifax HPI report in full click here
Author: 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.