Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

UK monthly house price growth hits eight-month high - Halifax

Published 07/09/2017, 09:02
© Reuters. Houses are seen in London

LONDON (Reuters) - British house prices jumped in August at the fastest pace this year, adding to signs the housing market has regained some strength after its post-Brexit vote slowdown, mortgage lender Halifax said on Thursday.

House prices increased 1.1 percent from July, the biggest one-month rise since December and building on July's 0.7 percent increase, Halifax said.

"Recent figures for mortgage approvals suggest some buoyancy may be returning, possibly on the back of strong recent employment growth, with the unemployment rate falling to a 42-year low," said Russell Galley, managing director of Halifax Community Bank.

However, falling wage growth, when adjusted for inflation, would limit the affordability of houses for some buyers, he said.

Annual house price growth picked up to 2.6 percent from 2.1 percent in July, Halifax said.

Last week the Bank of England said mortgage approvals were much stronger than expected in July.

A Reuters poll of analysts last week pointed to a muted outlook for the housing market, with prices expected to rise 2.0 percent this year and next.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.