Financial News: UK Halifax House Prices Fall Unexpectedly

UK Halifax House Prices Fall Unexpectedly

06/06/2025 - 03:25:00 (RTTNews)

(RTTNews) - UK house prices declined unexpectedly in May after the stamp duty holiday ended in March, data from the mortgage lender Halifax revealed on Friday.

House prices dropped 0.4 percent month-on-month in May, in contrast to the 0.3 percent increase in April. Prices were expected to grow 0.4 percent.

On a yearly basis, house price inflation softened to 2.5 percent in May from 3.2 percent in the previous month.

The small monthly movements point to a housing market that has remained largely stable, with average prices down by just 0.2 percent since the start of the year, Halifax Head of Mortgages Amanda Bryden said.

Bryden observed that the market appears to have absorbed the temporary surge in activity over spring, which was driven by the changes to stamp duty.

Affordability remains a challenge with house prices remain high relative to incomes. Nonetheless, lower mortgage rates together with steady wage growth underpinned buyer confidence.

"The outlook will depend on the pace of cuts to interest rates, as well as the strength of future income growth and broader inflation trends," Bryden said.

Despite ongoing pressure on household finances and uncertain economic backdrop, Halifax expects the housing market to continue to remain resilient in the coming months.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

New Zealand Manufacturing PMI Data Due On Friday (02 hr(s), 52 min(s), 56 sec(s) ago)
(RTTNews) - New Zealand will on Friday release May results for the manufacturing PMI from Business ...Full Story»

Thirty-Year Bond Auction Attracts Average Demand (07 hr(s), 41 min(s), 56 sec(s) ago)
(RTTNews) - The Treasury Department announced the results of this month's auction of $22 billi ...Full Story»

Portugal Inflation Confirmed At 2.3% (10 hr(s), 54 min(s), 56 sec(s) ago)
(RTTNews) - Portugal's consumer price inflation increased slightly as initially estimated in M ...Full Story»

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected (11 hr(s), 02 min(s), 56 sec(s) ago)
(RTTNews) - After reporting an unexpected decrease by U.S. producer prices in the previous month, ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High (11 hr(s), 05 min(s), 56 sec(s) ago)
(RTTNews) - The Labor Department released a report on Thursday showing first-time claims for U.S. ...Full Story»

Irish Inflation Eases To 5-month Low (12 hr(s), 03 min(s), 56 sec(s) ago)
(RTTNews) - Ireland's consumer price inflation moderated in May to the lowest level in five mo ...Full Story»

U.S. Producer Prices Inch Up Less Than Expected In May (12 hr(s), 15 min(s), 56 sec(s) ago)
(RTTNews) - After reporting an unexpected decrease by U.S. producer prices in the previous month, ...Full Story»

U.S. Weekly Jobless Claims Unchanged At 248,000 (12 hr(s), 21 min(s), 56 sec(s) ago)
(RTTNews) - The Labor Department released a report on Thursday showing first-time claims for U.S. ...Full Story»