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Thursday, December 08, 2016

Annual house price growth 6% - HalifaxHPI

Halifax's House Price Index from November 2016 data has been published.

UK House November 2016 prices (seasonally adjusted)
  • Annual change +6.0% 
  • Quarterly change +0.8% 
  • Monthly change +0.2% 
  • Average Price £218,002 
Martin Ellis, Halifax housing economist, said:

“House prices in the three months to November were 0.8% higher than in the previous quarter. This increase followed little movement in prices on this quarterly measure in both September and October. The annual rate of growth also increased, rising for the first time for eight months, from 5.2% in October to 6.0%.

Despite November’s pick-up, the annual rate has been on a steady downward trend in recent months since reaching a peak of 10.0% in March. Heightened affordability pressures, resulting from a sustained period of house price growth in excess of earnings rises, appear to have dampened housing demand, contributing to the slowdown in house price inflation. Very low mortgage rates and an ongoing, and acute, shortage of properties available for sale should help support price levels although annual house price growth may slow over the coming months.” 

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