Halifax says annual house price inflation slows to lowest growth so far this year

Average house prices were £232,249 in October, Halifax has reported.

The lender said this brought annual inflation to 0.9%.

Halifax managing director Russell Galley 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 economic uncertainty.”

The Halifax, which has recently changed how it calculates prices after criticism that its indices were out of sync with others, is still at odds with Nationwide, which also bases its numbers on mortgage approvals.

Nationwide puts the average house price in October at £215,368, saying that annual house price inflation was 0.4%.

 

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4 Comments

  1. gdavidson37

    Why do all the housing market reports/updates/analysis always focus on average house price without also featuring sales numbers by volume?

    Does anyone know where I can get a clear and up to date report on house sales by volume? That’s much more interesting to me.

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    1. PeeBee

      “Does anyone know where I can get a clear and up to date report on house sales by volume? “
       
      For what?
       
      For where?

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  2. LandlordsandLetting

    Is ‘Haliax’ one of those new banks?

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  3. PeeBee

    Headline page quote:

    “Halifax and Nationwide still at disparity over average house prices”

    There will always be a disparity, because they are comparing entirely different things.

    Vauxhall and Skoda both sell cars – but their sales statistics aren’t the same.

    Douglas & Gordon’s stats are different from Foxtons.

    You would think that selling boxes is selling boxes – it is… until those boxes are for living in.

    At that point, every box sold is a different size… a different shape… a different colour…in a different place… and performs a different use for the new owner who all have their own wants and needs… and has a different seller with different wants and needs.  All of which affect the price paid.

    You’ll not get two results the same for those – and a myriad of other – reasons.

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