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House price growth continues to dip

Updated: Nov 14, 2019

UK house price growth continued to slow in October, according to the latest survey from the Halifax.


The lender says prices saw a "modest" annual increase of 0.9%.


Prices dipped 0.1% in October compared with the previous month, with the average property costing £232,249.


Russell Galley, Halifax managing director, said that while the 0.9% annual rate was the lowest seen this year, "it again extends the largely flat trend which has taken hold over recent months".


“A number of underlying factors such as mortgage affordability and wage growth continue to support prices, however there is evidence of consumers erring on the side of caution," he said.


“We remain unchanged from our view that activity levels and price growth will remain subdued while the UK navigates political and economic uncertainty.”


With Brexit still not fully resolved and increasing uncertainty this trend does seem like it will continue.


Source of article - BBC News & Halifax




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