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.

You May Also Enjoy

Breaking News

Residential projects remain under pressure

Infrastructure keeps UK construction moving through a sluggish spell Residential and non-residential projects remain under pressure, while infrastructure and utilities work give the industry a much-needed lift The value of underlying work starting on-site during the latest three months declined 2% and stood 18% below last year’s levels. Residential construction starts fell 8% against the…
Read More →
Breaking News

Homebuyers hold tight ahead of Autumn Budget

but should they wait to make their move?   The latest research from Yopa has revealed that mortgage market activity has reversed in recent months, with approvals falling at an average monthly rate of 3.9% over the last four months, having previously increased by an average of 1.5% per month over the previous four months, suggesting…
Read More →
Breaking News

House price growth accelerates in Q2

The latest Property Market Index Review by London lettings and estate agent, Benham and Reeves, has revealed that the property market continued to build momentum during the second quarter of 2026, with UK house prices increasing by 1.1%, while London recorded a second consecutive quarter of positive growth.   The Benham and Reeves Market Index Review…
Read More →
Breaking News

House prices hold steady despite impact of higher interest rates

House prices were unchanged in September (0.0%), following a -0.3% fall in August The average property price is now £298,441, compared to £298,395 in August Prices were also unchanged annually (0.0%) compared with September last year Northern Ireland continues to lead UK annual growth, at +7.4% Latest first-time buyer prices reveal what a 2.5% deposit…
Read More →
Breaking News

Breaking Property News 5/10/26

Daily bite-sized proptech and property news in partnership with Proptech-X. Architect-founded KnowYourNest brings property scores into the home search, with a free 1–10 score and full KnowYourNest reports from £9.95 By Author Andrew Stanton CEO Proptech-PR NestLink today launches free NestScore checks and KnowYourNest property intelligence reports for buyers and homeowners across England and Wales.…
Read More →
Breaking News

Gap between house prices and earnings narrows

Gap between house prices and earnings narrows – but higher borrowing costs limit affordability gains UK’s house price to income ratio falls from 7.6 to 7.3, an 11-year low, as earnings continue to outpace house price growth For first-time buyers, homes now cost less than six times earnings, falling from 6.1 to 5.9 However, monthly…
Read More →