Halifax has today released it latest UK property house price index. The average house price in the UK in April 2018 has fallen to £220,962 from over £227,000
Halifax found that house prices in April 2018 were 2.2% higher than in April 2017. This was a fall after last month's surpise jump increases of 2.7% pa up February 2017 to February 2018. In short, house prices are still falling.
Comparing Halifax’s February to April figures, house prices were actually down again 0.1% with a much higher fall in just the month of April alone of 3.1%
House prices remain relatively flat and are visibly slowing down given uncertainty on Brexit, the economy and long awaited wage growth.
Housing supply is low as people sit tight and wait for ecomomic uncertainty to pass. Unemployment is still falling and wage growth is nopw rising, so confidence will return.
Sit tight, you may see further falls but in the words of Mark Twain “Buy land, they are not making anymore”.