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Halifax House Price Index August 2019

Brian Murphy, Head of Lending for Mortgage Advice Bureau, said:

“This morning’s report from Halifax suggests that average values dipped very slightly in July when compared with June, although performance was marginally improved over the most recent quarter, and indeed show a modest year on year increase. A softening of prices achieved over the summer months isn’t unusual, and is normally attributed to the distractions of school holidays and seasonal travel plans, meaning that many vendors generally need to be more competitive in their pricing to attract a buyer. That said however, looking at these figures, one might suggest that in many regions around the UK, the market is ticking over nicely with the current direction of travel remaining relatively steady.

What’s also encouraging is that our new prime minister appears to have housing rather firmly on his agenda, and the fact that the current fundamentals of employment, wage growth and competitive borrowing climate have remained consistent for much of this year. Whilst today’s Halifax report suggests that we may not see a significant movement in market dynamic until later in the year once more certainty around Brexit is available, there certainly are homemovers out there who are carrying on regardless and transacting based on what’s best for their individual circumstances, rather than being spooked by news headlines."

To read the full report, click here

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