Halifax House Price Index July 2018

Brian Murphy, Head of Lending for Mortgage Advice Bureau comments on the Halifax House Price Index (June 2018 data):

“The report released by the Halifax this morning suggests that property values plateaued over the last month, however in some respects no news is good news. Average house price growth is still in positive territory – just – and volumes remain flat, which would indicate that the market is ticking over nicely, despite any ongoing political or economic jitters. The figures for the first half of 2018 suggest that the market is very much performing within expectations, so today’s data doesn’t give us any cause for concern.

As we head into the summer season, which normally sees both viewing and listing numbers come off the boil, the ongoing lack of stock in many areas may turn into a drought, unless those potential sellers who are currently sat on the fence decide to take action over the next few weeks given that market demand is, in many regions, still very much in evidence. Lack of choice seems to be the main issue in many conurbations, particularly in the ‘middle market’ with the usual family movers hoping to complete their transactions during the school holidays and therefore motivated to transact, but struggling to find the right property. However, don’t underestimate the impact of the World Cup on consumer sentiment – whilst there is likely to be a distinct lack of viewings booked in with estate agents tomorrow afternoon for example, the ‘feel good factor’ on the nation as a whole should Southgate’s men succeed could put a distinct, if not surprising, bounce into the property market’s step.”

To read the full report, click here.