House Price Growth Slows
Published / Last Updated on 09/03/2017
House Price Growth Slows.
Halifax has published its latest House prices index.
House price growth fell in February to 5.1% pa compared to 5.7% in January. This means that whilst prices are still rising at over 5% per year, the rate of increase is slowing down.
Price rises are measured based upon the average house prices in the 3 months average up to February 2016 compared to 3 months average in February 2017.
The average house price in the UK is now £219,949.
Affordability slightly improved with this small slowdown and the average loan to value deposit remains consistent at around a 30% deposit.
That said, wages are not rising that fast, new build is not picking up pace and we expect house price inflation to remain at the 4%pa + market for a few more years yet.