Phone Us

Average House Price See a Month-To-Month Pick-Up in September

House prices increased by 0.1% in September, according to the newest house price index from Halifax.

House prices increased by 0.1% in September, according to the newest house price index from Halifax.

According to the September report from the mortgage lender, the average property price for the UK now stands at £214,024 – marking a rise from the 0.3% decrease in August and the 1.1% decrease seen in July.


Year-on-year property prices have increased by 5.8%, with the average property gaining an additional £11,199 in value since September 2015.


Whilst the rate of annual growth remains significant, September’s figures indicate a slight decrease on the August value of 6.9%.


Halifax also reported that the amount of homes for sale remains among the lowest levels recorded, following a third consecutive month of decline in supply in August. The amount of mortgages approved also saw a 1.4% decline between July and August this year.


Commenting on the latest figures from Halifax, chief economist at IHS Global Insight, Howard Archer, said:


‘While softer housing market activity is likely to limit house prices, we suspect that the current resilience of the economy and a shortage of properties will prevent prices from falling over the final months of 2016.’


Last month, Knight Frank reported that household confidence in the UK property market saw a substantial increase in September.

X
Cookies on our website:
This website uses cookies.
I'm OK with this Cookie Settings ?