Halifax House Price Index - September Update

The Halifax House Price Index have delivered their update for September. Here are the highlights of what they said:

• Average house price fell by -0.4% in September

• Property prices dropped by -4.7% on an annual basis

• Typical UK home now costs £278,601, around the level seen in early 2022

• Average prices remain more than £39,000 above pre-pandemic levels

• South of England continues to see most downward pressure on property prices

Kim Kinnaird, Director, Halifax Mortgages, said:

This was a sixth consecutive monthly fall, though the pace of decline slowed markedly compared to August (-1.8%).

House prices have proven more resilient than expected over that period, despite higher mortgage rates suppressing market activity.

While property prices are now around £14,000 below the August 2022 peak, they remain +1.0% above the level seen in December 2021 (£275,889).

For the full breakdown of the report click below or visit: https://www.halifax.co.uk/media-centre/house-price-index.html

Halifax House Price Index - September Update.pdf

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