Halifax says house price growth slows again

by Aaron Strutt

Dec 03 2014

House prices in the latest three months (September-November 2014) were 0.7% higher than in the previous three months (June-August 2014).

The number of home sales fell below 100,000 in October - to 98,490 - for the first time in 2014. However, current estimates suggest that housing transactions in 2014 will total in excess of 1 million for the second consecutive year. This is the first time since 2006 and 2007 that home sales will have exceeded 1 million in successive years, according to HMRC’s seasonally adjusted figures. 

Martin Ellis, housing economist at Halifax, said: “Housing demand continues to be supported by a strengthening economy, rising employment levels, still low mortgage rates and the first gain in ‘real’ earnings for several years. We expect a further moderation in house price growth over the next year with prices nationally expected to increase in a range of 3-5% in 2015.”