The Halifax House Price Index longest running monthly house price series in the UK, and they have now released their most recent report referring to September’s data.
The picture built up from the data is one of a calm market, showing signs of house price growth and stabilisation. Paul Wood, a Director at Pygott and Crone comments: “The report released from the Halifax this morning refers to September data, and suggests a calm market; house price growth is stabilising, with prices up +0.1% on August, and up 5.8% on the same quarter in 2015. Overall, Q3’s figures were 0.1% lower than the previous quarter, which again could suggest that, whilst the pace of growth is slowing, over the last six months property values have, broadly speaking, ticked along at the same rate.
Prices up +0.1% on August
We’re moving into what is normally a seasonally busy time of year, with those transacting now keen to be in by Christmas, therefore motivated to proceed. With the ongoing lack of supply, coupled with competitive deals and easing lending criteria available in the market, it’s possible that Q4 will look pretty similar to what we’ve seen in the last three months, as house price growth and values could possibly remain steady for the foreseeable future.
It’s also interesting to note that the Halifax say in their report today that the figures released are in line with their forecast for 2016, which should provide reassurance, for those who need it, in terms of the market as we move towards the end of the year. All in all, for me the Halifax figures today would suggest it’s a case of ‘keep calm and carry on’.”
Paul Wood is from Pygott and Crone – for further information call: 0800 917 7404
Email: info@pygott-crone.com or visit: www.pygott-crone.com
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