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Halifax House Price Index July 2019

Brian Murphy, head of lending for Mortgage Advice Bureau, said:

“This morning’s report from Halifax suggests that prices dipped very slightly on a monthly basis in June, although performance was better over the most recent quarter with a modest uplift in values. The annual change figure may, yet again, lead some to raise the issue of data volatility. However, conversely one could argue that the Halifax does have a significant client base in the Midlands and North, where markets and prices are performing far better than London and the South East, hence this may be artificially influencing the topline average figures and therefore this significant change can be substantiated, but perhaps not across all regions.

Bearing this in mind, what we can see from today’s data is that, effectively, the market trend continues to follow a similar direction of travel to the one that we’ve observed since the beginning of this year; those who need to move are doing so, regardless of politically-driven news headlines, and are far more likely to make the decision to purchase based on their own circumstances should the need dictate. The availability of competitive mortgage products is also providing many with support, as lenders remain very much ‘open for business’ with some repricing downwards of late in order to gain more traction in the market.”

To read the full report, click here

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