House price growth lowest in six years

House price inflation in the UK has stagnated since the Brexit vote amid ongoing uncertainty and political turmoil.

In a signal of Brexit’s negative impact on the housing market, September was the worst month for house price growth in the UK for more than six years, according to mortgage lender Halifax. After increasing by 1.8% year-on-year in August, house prices rose by just 1.1% last month. Month-on-month, house prices fell by 0.4% in September after growing by 0.2% in August.

Not a single one of the UK’s biggest cities saw annual property growth edge above 5% in August for the first time since 2012.

According to a new index published by property website Zoopla, the market is in the process of adjusting to more realistic pricing. At the time of the referendum in 2016, the Halifax index was indicating house price growth of about 8% a year. But with the economy largely struggling and the outlook highly uncertain, experts suspect that house prices will remain soft in the near term at least.

Articles on this website are offered only for general informational and educational purposes. They are not offered as and do not constitute financial advice. You should not act or rely on any information contained in this website without first seeking advice from a professional. Capital is at risk; investments and the income from them can fall as well as rise.

You are now departing from the regulatory site of Finura. Finura is not responsible for the accuracy of the information contained within the linked site.

Source: https://www.techlink.co.uk/

Other News

Home Insurance – What is it Worth?

Our homes are one of our most valuable possessions – not simply from a bricks and mortar perspective, but all the contents, memories and comforts that it holds within.

The next budget date has been announced

The Chancellor has announced a Budget date of 6 November 2019, the first Budget after leaving the EU.

House price growth lowest in six years

House price inflation in the UK has stagnated since the Brexit vote amid ongoing uncertainty and political turmoil.