Halifax October 2019 House Price Index – Annual house price growth slows to 0.9%

Halifax October 2019 House Price Index – prices were 0.9% higher than in the same month a year earlier, which means, monthly, house prices fell by 0.1%.

Headlines:

• House prices in October were 0.9% higher than in the same month a year earlier
• On a monthly basis, house prices fell by 0.1%
• In the latest quarter (August to October) house prices were 0.2% higher than in the preceding three months (May to July)

Russell Galley, Managing Director, Halifax, said:

“Average house prices continued to slow in October, with a modest rise of 0.9% over the past year. While this is the lowest growth seen in 2019, 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.

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

Kindly shared by Halifax