Annual house price growth rises to 9.7%

Prices in the three months to October were 9.7% higher than in the same three months a year earlier   House prices in the latest three months (August-October) were 2.8% higher than in the preceding three months   Commenting, Martin Ellis, Halifax housing economist, said: "House prices in the three months to October were 2.8% higher than in the previous three months. This was slightly above the average of 2.5% on this measure over the first nine months of the year. The annual rate increased from 8.6% in September to 9.7%. “Improving economic conditions and household finances, together with sustained low mortgage rates, have boosted housing demand during 2015. Strengthening demand is filtering through in to higher sales levels although the ongoing shortage of supply is acting as a significant constraint on activity. “The imbalance between supply and demand is likely to persist over the coming months, maintaining upward pressure...
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Comment on the latest Halifax HPI

According to the latest Halifax House Price Index, UK house prices have increased by +2.8% on the last quarter, up nearly +10% on this time last year. Founder and CEO of eMoov.co.uk, Russell Quirk, commented: “The continued rise in house prices across the UK won’t come as a surprise to many. The nation are currently experiencing one of the most comfortable economic periods in quite some time, with interest rates at a record low and looking to stay that way until next year at least. There is no doubt that the main driving factors behind this uplift are the abundance of more affordable mortgage products on the market, as well as the continuous elephant in the room of a general lack of housing in Britain, affordable or otherwise, due to inventory levels hitting an all time low. Although this might make good reading for many homeowners who are due to benefit...
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Annual house price growth eases to 8.6%

    Key Facts Prices in the three months to September were 8.6% higher than in the same three months a year earlier House prices in the latest three months (July-September) were 2.0% higher than in the preceding three months Commenting, Martin Ellis, Halifax housing economist, said: "House prices in the three months to September were 2.0% higher than in the previous quarter. This measure of the underlying rate of house price fell from last month’s 3.0%, to its lowest since May. The annual rate eased from 9.0% to 8.6%. “Housing demand has been strengthening recently, underpinned by economic growth, rising real earnings and very low mortgage rates. Increasing demand is combining with very low supply to drive robust underlying house price growth. There is little reason to expect any fundamental shift in the key market drivers over the coming months.”   Key facts House Prices Housing Activity • House prices...
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Slight pickup in house price growth in October

  Nationwide have just released their HPI for October. House prices increased by 0.6% in October Annual house price growth ticked up to 3.9% Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: “UK house prices increased by 0.6% in October, with the annual pace of price growth edging up to 3.9% from 3.8% in September. “Over the past five months annual price growth has remained in a fairly narrow range between 3% and 4%, broadly consistent with earnings growth over the longer term. While this bodes well for a sustainable increase in housing market activity, much will depend on whether building activity can keep pace with increasing demand. Fixed rate mortgages remain most popular “Fixed rate mortgages have remained the most popular product type by a considerable margin in recent years. Data from the Council of Mortgage Lenders suggests that almost 90% of new mortgages were contracted on fixed...
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