Halifax says house price rises are slowing

The average UK house price stood at £186,270 in August, Halifax has reported.

The “seasonally adjusted” figure was up just 0.1% on July, with year-on-year inflation at 9.7%.

Halifax economist Martin Ellis said: “Housing demand is supported by continuing economic recovery, growth in employment, improving consumer confidence and low mortgage rates.

“Nonetheless, earnings growth that remains below consumer price inflation, and the prospect of an interest rate rise at some point over the coming months, are likely to curb demand.

“There are some signs of an improvement in housing supply, both in terms of more second-hand properties coming on to the market and increased numbers of new homes.

“These trends, if sustained, should help to improve the balance between supply and demand, contributing to an easing in the pace of house price growth.”

EYE says: All this “seasonally adjusted” nonsense is very distracting and increasingly illogical. If we knew what actual prices were in August, rather than the fictional “seasonally adjusted” ones, it would make life easier all round – for sellers, buyers, lenders and agents.


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One Comment

  1. David Cantell

    Figures based on property completions data we all know is three months behind the “coal face” reality, perhaps even further outdated given long stop completions. If you would like to know the present figures, they'll be announced in a few months……..


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