House prices have flattened over last quarter according to Halifax
The Halifax House Price Index report June 2017 released today headlines ‘Annual house price growth eases to 2.6%’.
House prices in the three months to June were 2.6% higher than in the same period of 2016.
House prices in the three months to June 2017 were 0.1% lower than in the three months to March 2017.
Martin Ellis, Halifax housing economist, said: “House prices have flattened over the past three months. Overall, prices in the three months to June were marginally lower than in the preceding three months. The annual rate of growth has fallen, to 2.6%; the lowest rate since May 2013.
“Although employment levels continue to rise, household finances face increasing pressure as consumer prices grow faster than wages. This, combined the new stamp duty on buy to let and second homes in 2016, appears to have weakened housing demand in recent months.
“A continued low mortgage rate environment, combined with an ongoing acute shortage of properties for sale should help continue to underpin house prices over the coming months.”
Read the Halifax House Price Index report June 2017 in full click here.