ANNUAL HOUSE PRICE GROWTH SLOWS TO 2.2%

Halifax have just released their latest House Price Index (HPI). • Prices in the last three months to January were 2.2% higher than in the same three months a year earlier, although the annual change in January was lower than in December (2.7%) • House prices remained unchanged in the recent quarter (November-January) from the previous quarter (August-October); on this measure prices are down from the 1.3% quarterly rise recorded in December • On a monthly basis, prices fell for the second consecutive month in January (by 0.6% following a 0.8% decrease in December) • The average price of £223,285 at the beginning of the year is 1.9% higher than in January 2017 (£219,217), however, the current price has edged down after recording £226,408 – highest on record – in November Russell Galley, Managing Director, Halifax Community Bank, said: “Annual house price rises have slowed from 2.7% in December to 2.2% in...
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