UK house prices increase for the fourth consecutive quarter according to Halifax
Latest Halifax House Price Index report – November 2017 released today headlines ‘Annual House Price Growth Eases to 3.9%’
The report reveals house prices in the three months to November 2017 were 2.4% higher than in the three months to August 2017.
House prices rose by 0.5% between October and November, following a 0.3% increase in October marking the fifth consecutive monthly rise. The average price of £226,821 is 3.2% higher than in January (£219,741) according to Halifax.
Russell Galley, Managing Director, Halifax Community Bank, said: “Whilst the annual rate of growth eased in November, with the first decline in this measure since July, when looking at quarterly change prices in the three months to November were marginally higher than in the preceding three months; the fourth consecutive quarterly increase..
“The imbalance between supply and demand continues to support house prices, which doesn’t look like changing in the near future. Further ahead, increasing affordability issues, as price increases continue to outstrip wage growth, are likely to curb housing demand and cause price growth to ease. We do expect the Government’s first-time buyer Stamp Duty changes to provide some stimulus to demand, particularly in London and the South East where the impact is greatest.”
Read the latest Halifax House Index report – November 2017 in full click here.