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- The UK annual growth rate slowed from the 3.7% recorded in August
The UK annual growth rate slowed from the 3.7% recorded in August
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House prices in the latest quarter (July-September) were 1.8% higher than in the preceding three months (April-June), the third consecutive rise on this measure
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House prices in the three months to September were 2.5% higher than in the same three months a year earlier
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The annual growth rate slowed from the 3.7% recorded in August
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On a monthly basis, house prices fell by 1.4% in September, the second consecutive fall for this measure
Russell Galley, Managing Director, Halifax, said: "With the annual rate of house price growth easing to 2.5% in September from 3.7% in August and the quarterly rate of growth remaining at 1.8% for the second month, we are seeing a steadying in house price inflation across these more stable measures. "This is set amongst mortgage approvals and completed house sales remaining broadly unchanged, although a gradual pickup in wage growth has helped to support household finances. "The annual rate of growth is near the top of our forecast range of 0-3% for 2018, as a low supply of new homes and existing properties for sale, combined with historically low mortgage rates and a high employment rate, continue to support house prices".
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