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- UK house prices rose less than expected y/y
UK house prices rose less than expected y/y
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Prices in the last three months of 2017 were 2.7% higher than in the same three months a year earlier although the annual change in December was lower than in November (3.9%)
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House prices in the final quarter (October-December) were 1.3% higher than in the previous quarter (July-September), down from 2.3% recorded in October and November
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On a monthly basis, prices also fell by 0.6% from November following a 0.3% increase in both October and November; this is the first fall since June 2017
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The average price of £225,021 at the end of the year is 2.4% higher than in January 2017 (£219,741)
Russell Galley, Managing Director, Halifax Community Bank, said: "House prices in the three months to December were 1.3% higher than in the previous quarter; a gradual slowdown from 2.3% in both October and November. The annual rate of growth has also moderated to 2.7% from November's 3.9%. Ending the year, house prices in December fell by 0.6%; the first monthly decline in six months".
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