House Prices Up Meagre £360 Since March

Halifax has released its latest UK property house price index for August 2019. The average house price in the UK is now £233,541 up just £360 from £233,181 in March 2019.

Halifax found that house prices were 1.8% higher than last year and were 0.1% higher this quarter year than the previous 3 months (March to May 2018).  Although prices up by 0.3% in a month.

Comment

There has been no real shift in house prices in August.   Property prices have been flatlining all year with the average house price up just £360 since March.

Economic uncertainty continues to weigh on consumer sentiment but important underlying factors such as affordability and employment remain strong but it is still a subdued market as people sit tight not making any big property decisions in 2019 waiting for Brexit chaos to clear with the economy still ‘flatlining’.

With certainty on Brexit will come clarity on property.  No deal, prices will fall, with an orderly Brexit and deal agreed, property prices may initially remain flat and then start to recover.