House Price Growth Slows

Published / Last Updated on 13/01/2018

House prices slowHouse Price Growth Slows.

Halifax has released it latest house price index for December 2017 with figures confirming that house prices are slowing down and going into reverse.

For the three months October, November and December 2017 compared to the same period in 2016, house prices moved:

  • Up 2.7% for the year
  • Up 1.3% for the quarter i.e. 3 months
  • Down 0.6% in December
  • The average house price in the UK finished at £225,021.

Activity is still there with over 100,000 sales per month for the 11th consecutive month although the number of mortgage applications and approvals is falling and was down 2.1% in November.

House Price Growth in 2018

Halifax predicts house prices in 2018 to continue a similar theme as 2017 with predictions of 3% growth overall although we suspect that house prices will be artificially held up by a lack of property available on the market.  Many people are not selling or looking to move given uncertainty in the economy and slow wage growth being outpaced by cost of living increases (inflation).