The September Halifax House Price Index reports that house sales in the latest 3 months (April to June 2014) were 2.7% higher than the previous 3 months (July to September 2014).
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."
- House prices in the latest three months (July-September 2014) were 2.7% higher than in the previous three months (April-June 2014). This quarterly rate was down from 2.9% in the previous month and from 3.5% in July.
- Prices in the three months to September were 9.6% higher than in the same three months a year earlier. This was similar to August (9.7%) and lower than July’s 10.2%.
- House prices rose by 0.6% between August and September.