House Prices Slowest Growth for 6 Years

Published / Last Updated on 07/10/2019

Halifax has today released its latest UK property house price index for September 2019.  The average house price in the UK in September was 1.1% higher than the same month last year at £232,574.  This is the lowest annual increase since April 2013.

House prices were 0.4% higher in the latest quarter July – September, than in the months April – June.

Russell Galley, Managing Director, Halifax, said: “Looking ahead, we expect activity levels and price growth to remain subdued while the current period of economic uncertainty persists.”

Read Halifax's full report: https://static.halifax.co.uk/assets/pdf/mortgages/pdf/September-2019-House-Price-Index.pdf

Comment

We are all uncertain about Brexit and global economic slow down.  It is no wonder house prices are slowing down.  That said, demographics will eventually take over again.

  • Wages are rising faster than inflation - this will drive demand up.
  • The UK population is still increasing meaning more demand.
  • Not enough homes are being built to meet that demand.  Prices will recover and rise.

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