House price growth reaches 2.1%

UK house prices were 2.1% higher last month than a year ago at an average price of £234,625, according to the Halifax House Price Index. Prices also grew on a monthly basis, rising 1.0% from October. House prices also posted quarterly gains, with the latest quarter 0.2% up on the preceding three months. Halifax managing director Russell Galley said: “Prices are now up by £3,904 since the start of the year. While a degree of uncertainty remains evident, it’s also clear that buyers and sellers are responding to factors such as improved mortgage affordability and the limited supply of available properties.” He added: “Over the medium term we expect the emerging trend of modest gains to continue into next year”.

The Guardian (06/12/2019)