House prices rise slowly
The latest figures show house price growth gently slowing into the autumn


House price growth is still climbing, putting the average house price at £199,770, but is set to slow further in coming months according to the latest figures from Halifax. Prices increased by 0.4% in August, according to the lender, making August the third month in which house prices have grown less than 0.5%. The annual rate did edge higher to 11.4% last month from 11.2% in July, although experts have pointed out that the year-on-year comparison is set to look more sombre in coming months, when set against the strong monthly gains seen last autumn. Halifax also noted that despite the five consecutive rate rises, a healthy economy and a strong labour market are continuing to underpin housing demand, although the bite on new buyer interest is set to continue. ?The downward trend in house price growth is expected to continue over the remainder of 2007 as the five interest rate rises since last summer have had an increasing impact on household spending and housing demand. Sound economic fundamentals, high levels of employment and a shortage in the number of properties available for sale will, however, continue to support house prices,? predicted Martin Ellis, Halifax Chief Economist. Ed Stansfield from Capital Economics agreed: ?The outlook is for a slowdown in the annual rate of house price inflation over the next few months,? he said. ?In 2008 we expect prices to be broadly stable at the national level, with rises in some parts of the country being offset by modest falls in others.?
Sign up for the Country Life Newsletter
Exquisite houses, the beauty of Nature, and how to get the most from your life, straight to your inbox.
-
'The watch is Head Boy of men’s accessorising': Ginnie Chadwyck-Healey and Tom Chamberlin's Summer Season style secrets
When it comes to dressing for the Season, accessories will transform an outfit. Ginnie Chadwyck-Healey and Tom Chamberlin, both stylish summer-party veterans, offer some sage advice.
-
Lewis Hamilton, Claude Monet and the Four Horsemen of the Apocalypse: Country Life Quiz of the Day, April 29, 2025
Tuesday's Quiz of the Day looks back at Lewis Hamilton's first win and ponders on the meaning of greige.