wrapper

House prices rising at fastest rate since start of year, says Halifax

Tuesday, Nov 07 2017
House prices rising at fastest rate since start of year, says Halifax

House prices in the UK are rising at their fastest rate since the start of the year, largely due to a shortage of homes on the market, according to mortgage lender Halifax. Its house price index shows property values up 4.5% between August and October compared with the same period in 2016, the fastest pace of growth since February. The average house price was up 0.3% between September and October, rising to a record £225,826. The annual rate hit a post-financial crisis peak of 10% in March 2016, a few months before the Brexit vote, before falling to 2.1% in July this year. Since then price growth has picked up again.

Russell Galley, managing director of Halifax Community Bank, said low mortgage rates, high rates of employment and a shortage of homes for sale was pushing up prices “and is likely to do so over the coming months”. He added: “Increasing pressure on household finances and continuing affordability concerns are some of the factors likely to dampen buyer demand. That said we do not anticipate the base rate rise will be a barrier to buying a house.”

More in this category: « RBA left interest rates unchanged Eurozone Retail Sales up by 0.3% »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.