UK housing market cools unexpectedly in April according to Halifax

LONDON (Reuters) – British house price growth unexpectedly cooled in April, mortgage lender Halifax said on Tuesday, adding to signs of weakness in the housing market and the consumer economy more broadly.

British house prices were up 2.2 percent last month compared with the same period a year ago, compared with 2.7 percent in March and undercutting all forecasts in a Reuters poll of economists that had pointed to a reading of 3.3 percent.

On the month, prices fell 3.1 percent after a 1.6 percent rise in March, again weaker than all forecasts.

Halifax managing director Russell Galley said:

“Housing demand has softened in the early months of 2018, with both mortgage approvals and completed home sales edging down.”

The House Price Index can be viewed by clicking here.

Kindly shared by Reuters UK