Housing market 2017 follows similar pattern to previous year according to Halifax

January 8, 2018

Latest Halifax House Price Index report – December 2017 released today headlines ‘2017 House Price Growth Eased To 2.7%’.

Halifax reveals: House prices in the three months to December 2017 were 1.3% higher than in the three months to September 2017.

Russell Galley, Managing Director, Halifax Community Bank, said:

“House prices in the three months to December were 1.3% higher than in the previous quarter; a gradual slow down from 2.3% in both October and November. The annual rate of growth has also moderated to 2.7% from November’s 3.9%. Ending the year, house prices in December fell by 0.6%; the first monthly decline in six months.

“As we’d anticipated, the housing market in 2017 followed a similar pattern to the previous year. House price growth slowed, whilst building activity, completed sales and mortgage approvals for house purchase all remained flat. This has been driven by a squeeze on real wage growth and continuing uncertainty over the economy.

“However, nationally house prices in 2018 are likely to be supported by the ongoing shortage of properties for sale, low levels of housebuilding, high employment and a continuation of low interest rates making mortgage servicing affordable in relative terms. Overall we expect annual price growth to continue in the range of 0-3% at the end 2018.”

Read the Halifax House Price Index report – December 2017 in full click here.

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.

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