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