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Financial News: UK Halifax House Price Growth Eases In January

UK Halifax House Price Growth Eases In January

02/07/2020 - 04:01:00 (RTTNews)

(RTTNews) - UK house prices grew at a slower pace in January, data from the Lloyds Bank subsidiary Halifax and IHS Markit showed on Friday.

House prices increased 0.4 percent on a monthly basis, much slower than the 1.8 percent increase posted in December and 1.2 percent rise in November.

As a result, the annual growth remained at 4.1 percent in three months to January, compared to 4 percent in three months to December. During November to January, house prices were 2.3 percent higher than in the preceding three months.

"Looking ahead, we still expect a moderate rate of house price growth over the course of the year," Russell Galley, Managing Director, Halifax, said.

Demand is likely to continue to exceed the supply of properties for sale across the UK, with the subdued pace of new building also adding to upwards price pressure, Galley added.

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