Halifax reports lowest rate of house price growth in five years for October

Written by Allen Walkey on - Breaking News -

Latest Halifax House Price Index report October 2018 released today headlines ‘Annual House Price Growth Slows to 1.5% – Lowest Rate in Five Years’.

The report reveals that prices in the three months to October were 1.5% higher than in the same three months a year earlier – slowing from the 2.5% annual growth recorded in September, and recording the lowest rate of growth since March 2013.

Russell Galley, Managing Director, Halifax, said:

“The annual rate of house price growth has fallen from 2.5% in September to 1.5% in October, which is the lowest rate of annual growth since March 2013. However, this remains within our forecast annual growth range of 0-3% for 2018.

“House prices continue to be supported by the fact that the supply of new homes and existing properties available for sale remains low. Further house price support comes from an already high and improving employment rate and historically low mortgage rates which are creating higher rates of relative affordability. We see this continuing to be the case over the coming months and we remain supportive of our 0-3% forecast range.”

Read the Halifax HPI report October 2018 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.

100% No obligation mockup design offer exclusive to Estate Agent Networking readers,
this is a time limited offer on a first come first served basis.

Share
 

Recent Popular Articles


Housing associations failing to build homes


David Orr, Chief executive of the National Housing Federation recently said, ‘The election didn’t make any difference to the underlying fact that we hadn’t built


Massive housing boost from Persimmon


The Chancellor of the Exchequer George Osborne welcomes the massive housing boost from Persimmon, they have announced to build over 80,000 homes and create 1000


Onthemarket.com highlights London boroughs where people spend the most of their salary on rent -


Data revealed by property website OnTheMarket.com has shown that, for those renting in London, Camden is the borough where tenants are spending the highest percentage of their salary


Government launches a £54 million package to transform local communities.


Announcement published 1st August 2017 on GOV.UK website headlines 'Funding boost for local authorities to transform local communities.' The government has launched a £54 million


Extending Right to Buy scheme


Jeremy Corbyn a Labour leadership contender has said,  "the right to buy policy that lets council tenants buy their homes at a big discount should