House Prices Rise Faster.
Halifax yesterday released its latest House Prices Index for October 2018.
Whilst house prices are not falling, the rate of increases was slowing. After the summer slowdown in the rate of house price rises, October saw house price rises move back up a gear again.
The average house price in the UK is now £225,826, the highest on record.
For the year, the average house price rose 4.5% pa and up 2.3% in the last 3 months alone, so ‘hotting up’ a little.
Price increase rates have been slowing down since December last year but have been speeding up again since the summer.
We suggest these increases will slow as interest rates increases start to bite.