The latest figures from Halifax show annual house price growth has dipped to a six-year low. Average property price growth in September dropped to 1.1% – the lowest level recorded since April 2013.On a monthly basis, prices dropped by 0.4%, while quarterly growth was recorded at 0.4%.
Halifax calculates the average UK house price at £232,574 last month.
Halifax managing director, Russell Galley, says the annual growth remains in keeping with the ‘predominantly flat’ trend of recent months.
“Underlying market indicators, including completed sales and mortgages approvals, continue to be broadly stable. Meanwhile for buyers, important affordability measures – such as wage growth and interest rates – still look favourable.”
Galley says Halifax expects activity levels and price growth to remain subdued while the current period of economic uncertainty persists.
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