Halifax says house prices are still rising

Halifax says house prices are still rising

Friday, December 02, 2005

All houses, all buyers index (1983=100)

Index (seasonally adjusted)

550.5

Monthly change

1.2%

Annual change

4.5%

Standardised average price
(seasonally adjusted)

£170,086
House prices have increased by 4.7% over the past six months, increasing by 1.2% last month alone, the Halifax said today.

On an annual basis, house prices are up 4.5%, significantly below the 16.8% annual growth rate recorded in November 2004. The average house in the UK now costs £170,086.

The slowdown in the UK economy over the past year and the historically high level of house prices relative to average earnings are expected to curb the recent improvement in housing demand and prevent another sustained period of sharply rising property values, said the country’s biggest lender.

Halifax Estate Agents have seen a rise in sales in recent months with sales higher than a year earlier for the first time this year in October.

Earlier this week the Nationwide said UK house prices were unchanged in November. According to its house price index, that brought the annual rate of house price inflation down to 2.4%, from 3.3% in October. See our story House market settles back after rebound for more details.

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