UK house price growth in September was just 1.1% YoY, the slowest rate since April 2013, according to Halifax. With average prices hitting £286,029 ($232,574), a MoM drop of 0.4%, Halifax stated economic uncertainty resulting from Brexit will likely prevent an upswing in the property market. Meanwhile, London estate agency Benham & Reeves claimed YoY numbers remaining positive demonstrates resiliency in the market, given the instability of the political situation. Notably, sales numbers rose 16% MoM in August, the largest since November 2018, meaning homes are up for sale but price rises are not matching the increase.
UK house price growth in September was just 1.1% YoY, the slowest rate since April 2013, according to Halifax. With average prices hitting £232,574 ($286,029), a MoM drop of 0.4%, Halifax stated economic uncertainty resulting from Brexit will likely prevent an upswing in the property market. Meanwhile, London estate agency Benham & Reeves claimed YoY numbers remaining positive demonstrates resiliency in the market, given the instability of the political situation. Notably, sales numbers rose 16% MoM in August, the largest since November 2018, meaning homes are up for sale but price rises are not matching the increase.