The Halifax House Price Index shows that in the three months to September 2014 house prices were 2.7% higher than in the three months to June.
The Halifax House Price Index shows that in the three months to September 2014, house prices were 2.7% higher than in the three months to June.
- House prices rose 0.6% between August and September.
- Prices in the three months to September were 9.6% higher than the same quarter the previous year.
- Home sales have eased slightly in the last in recent months.
- Mortgage approvals fall again.
- Further signs of a better balance between supply and demand.
Commenting, Martin Ellis, housing economist, said:
“House prices in the three months to September were 2.7% higher than in the preceding three months. This was the second successive decline in the quarterly rate. Annually, prices were 9.6% higher in the three months to September than in the same three months last year; similar to last month (9.7%) and below July’s 10.2%.
“The recent rapid rise in house prices in some parts of the UK, earnings growth that remains below consumer price inflation and the possibility of an interest rate rise over the coming months, appear to have tempered housing demand. This weakening in demand has led to a modest easing in both house price growth and sales.
“Annual house price inflation may have peaked around 10%. A moderation in growth looks likely during the remainder of 2014 and into next year as supply and demand become increasingly better balanced.”