House price growth drops slightly to 0.1%

14th July 2017

UK house price growth fell 0.1% in the three months to June, Halifax's house price index shows. The average price fell 1% between May and June from £220,515 to £218,390, and annual growth fell to a four-year low of 2.6%, while economists had expected 3.1% growth. Halifax housing economist Martin Ellis suggested rising inflation, combined with the new stamp duty on buy to let and second homes, has put off prospective buyers. “A continued low mortgage rate environment, combined with an ongoing acute shortage of properties should help continue to underpin house prices,” he added.

The Times (07/07/2017)