Latest Halifax House Price Index published for June 2019

The Halifax House Price Index for June 2019 shows that average house prices for the month remain stable, and annual change is improved.

• On a monthly basis, house prices fell by 0.3%
• In the latest quarter (April to June) house prices were 2.4% higher than in the preceding three months (January to March)
• House prices in the three months to June were 5.7% higher than in the same three months a year earlier

June’s annual change figure of 5.7% comes against the backdrop of a particularly low growth rate in the corresponding period in 2018, which has had an impact on year-on-year comparisons.

Russell Galley, Managing Director, Halifax, said:

“Average house prices dipped marginally in June, falling by 0.3%, to stand at £237,110. This extends the largely flat trend we’ve seen over recent months.

“More generally the housing market is displaying a reasonable degree of resilience in the face of political and economic uncertainty. Recent industry figures show demand looking slightly more stable, with mortgage approvals ticking along just above the long-term average.

“One of the major restraining factors on the volume of transactions in the market continues to be the very low level of stock for sale. With the ongoing lack of clarity around Brexit, people will be looking for more certainty in the coming months, both to encourage them to list their property and to create the confidence needed to encourage buyers.

“Of course, the likelihood of continued historically low mortgage rates will underpin prices in the near term.”

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