{"id":22267,"date":"2018-12-07T11:02:34","date_gmt":"2018-12-07T11:02:34","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=22267"},"modified":"2018-12-07T11:02:34","modified_gmt":"2018-12-07T11:02:34","slug":"halifax-data-shows-house-price-growth-at-lowest-rate-since-2012","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/2018\/12\/07\/halifax-data-shows-house-price-growth-at-lowest-rate-since-2012\/","title":{"rendered":"Halifax data shows house price growth at lowest rate since 2012"},"content":{"rendered":"

New data from the Halifax shows that house prices in the year to November rose by just 0.3%, the lowest rate of growth since December 2012.<\/strong><\/p>\n

The figures show a marked slowdown from September and October, when growth stood at 2.5% and 1.5% respectively.<\/p>\n

House prices have also fallen on a monthly basis by 1.4%, following a recovery in October\u2019s figures,<\/a> with the average sale price now standing at \u00a3224,578. At 67,086, mortgage approvals were at their highest levels since January 2018.<\/p>\n

\u201cHigh 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,\u201d commented Russell Galley, Managing Director of Halifax.<\/p>\n

\u201cThis is largely offset by relatively limited supply of new and existing properties for sale, which continues to sustain house prices nationally.\u201d<\/p><\/blockquote>\n

The Halifax\u2019s figures are a contrast to those produced by the Nationwide,<\/a> which indicated that annual house price inflation stood at 1.9%. However, it\u2019s worth considering that the two collate their figures differently \u2013 Halifax base theirs on homes bought with mortgages, excluding council house sales, shared ownership and help-to-buy schemes. Nationwide use owner-occupier house purchase transactions involving a mortgage and do not count buy-to-let and cash deals.<\/p>\n

Industry foresees flat start to 2019<\/h4>\n

The new Halifax figures have attracted much comment from within the industry. \u201cWe suspect that the housing market will be relatively lacklustre over the coming months,\u201d said Howard Archer, chief economic adviser at EY Item Club.<\/p>\n

\u201cAlthough there are varying performances across regions with the overall national picture dragged down by the poor performance in London and parts of the South East.\u201d<\/p><\/blockquote>\n

\n

Notable #Halifax<\/a> has been reporting much more volatile monthly movements in #UK<\/a> #house<\/a> #prices<\/a> than other measures & now very much at low end. Halifax's reported 1.4% m\/m drop in Nov & y\/y rise of just 0.3% in 3 months to Nov compared to #Nationwide<\/a> up 0.3% m\/m & 1.9% y\/y in Nov https:\/\/t.co\/RZ2F7EdJ13<\/a><\/p>\n

— Howard Archer (@HowardArcherUK) December 7, 2018<\/a><\/p><\/blockquote>\n