Halifax HPI for August
September 10, 2015
Halifax House Price Index figures for the month of August released today show that house prices for the UK in the 3 months to August were 9% higher than in the 3 months a year earlier, lower than June at 9.6%, but higher than last month at 7.8%, house prices increased by 2.7% between July and August, the biggest rise since May 2014 at 3.8%
House prices in the last 3 months June to August were 3% higher than the preceding 3 months March to May, the quarterly rate of change increased from July’s 2.5% but remained below June’s 3.3%
Buying is still cheaper than renting, the average monthly costs associated with buying a three bedroom house in the UK for a first-time buyer are £56 lower than the typical monthly rent paid. Home sales fell in July, mortgage approvals rise again in July, supply remains low.
Commenting, Martin Ellis, Halifax housing economist, said: “House prices in the three months to August were 3.0% higher than in the previous quarter. This measure of the underlying rate of house price increased from last month’s 2.5% but remained below June’s 3.3%.
“The underlying pace of house price growth is strong. The shortage of secondhand properties for sale on the market is resulting in upward pressure on house prices. At thesame time, economic recovery, real earnings growth and very low mortgage rates are supporting housing demand.Strengthening demand and highly constrained supply are likely to mean that house price growth continues to be robust in the short-term.”
For full details: http://www.lloydsbankinggroup.com/media/economic-insight/halifax-house-price-index/
.
.
You May Also Enjoy
Renters’ Rights Bill parliamentary progress
The Renters’ Rights Bill has completed its Committee Stage in the House of Lords and will move on to the Report Stage imminently. Allison Thompson, National Lettings Managing Director of LRG, comments on the progress of the Bill: “As the Renters’ Rights Bill completes its committee stage in the House of Lords, it is disappointing…
Read More 
Housing Market Surges as Stamp Duty Changes Drive Buyer Activity
UK Finance today releases its latest Household Finance Review for Q1 2025, which explores trends in household spending, saving, and borrowing. Mortgage lending surged in the first quarter of 2025, driven by homebuyers seeking to complete purchases before changes to Stamp Duty took effect in April. Household savings continued to grow, particularly in notice accounts…
Read More 
Mortgage Approvals Down in April
The latest figures show that: – Mortgage approvals on house purchases for April sat at 60,463 down (-4.9%) from 63,603 in March. This signals four consecutive months of decline. Approvals are also lower (-2.1%) than the 61,740 seen in April 2024. Despite the decline, there is still optimism for growth in the coming months, especially…
Read More 
Build to rent completions up, but sector has seen slowdown in construction
New research by Inventory Base reveals that the number of build to rent completions has increased by almost 16% in the past year, however, there has been a significant dip in the number of BTR buildings currently under construction. Inventory Base has analysed UK build to rent (BTR) construction planning data* and found that in…
Read More 
Response to latest Nationwide House Price Index
Comment on latest Nationwide data showing a 3.5% increase in house prices from the Industry. Nathan Emerson, CEO at Propertymark: “It is reassuring to witness consistent house price growth and a strong appetite as people continue to approach the homebuying and selling process, especially when the UK economy continues to adapt to both domestic and…
Read More 
Annual house price growth edged higher in May
Annual rate of house price growth increased marginally in May to 3.5%, compared to 3.4% in April House prices were up 0.5% month on month House prices in predominantly rural areas have risen by 23% over the last five years, compared to 18% in more urban areas Commenting on the figures, Robert Gardner, Nationwide’s Chief…
Read More