House price growth slumps to six-year low

UK house prices grew just 0.3% in the three months to the end of November, compared to the same period last year - their weakest rate in almost six years, according to Halifax figures. House price growth also fell by 1.4% in November compared to October, Halifax’s data showed, and by 1.1% compared to the previous quarter. “High employment, wage growth and historically low mortgage rates continue to make home ownership more affordable for many, though the need to raise a significant deposit still acts as something of a restraint on the market,” said Russell Galley, managing director of Halifax.

City AM (07/12/2018)