Aug
6

Halifax House Price Index: July +0.4%

Halifax has published data for July which shows house prices rose by 0.4%, with the average house price currently £261,221, an increase of £1,122 on June's data. The average price is more than £18,500 higher than a year ago.
Managing Director of Halifax, Russell Galley, said:
"Latest industry figures show instructions for sale are falling and estate agents are experiencing a drop in their available stock. This general lack of supply should help to support prices in the near-term, as will the exceptionally low cost of borrowing and continued strong customer demand.  “Although there remains some uncertainty over the impact on employment from the unwinding of government support schemes, on balance the risks to the macro-environment are receding, with consumer confidence improving, the labour market recovering, and the economy expanding as restrictions are lifted. Overall, assuming a continuation of recent economic trends, we expect the housing market to remain solid over the next few months, with annual price growth continuing to slow but remaining well into positive territory by the end of the year.”
Click here to read the report.