FOREX TradingCharts.com

Financial News: UK House Price Inflation Highest Since 2004: Halifax

UK House Price Inflation Highest Since 2004: Halifax

07/07/2022 - 05:05:00 (RTTNews)

(RTTNews) - UK house prices rose at the fastest annual pace since late 2004 in June, survey data from the Llyods Bank subsidiary Halifax showed Thursday.

The house price index climbed 13.0 percent year-over-year in June, faster than the 10.7 percent rise in May.

The latest annual price increase was the fastest since late 2004, Halifax said.

On a monthly basis, house prices grew 1.8 percent in June, following a 1.2 percent gain in the prior month.

Further, this was the twelfth successive monthly increase and the pace of growth was the strongest since early 2007.

The average house price set a new record high of GBP 294,845 versus GBP 289,666 in the previous month.

Average property values have now risen by GBP 18,849 or 6.8 percent so far this year, Halifax said.

Among regions, Northern Ireland again logged the sharpest annual increase in house prices at 15.2 percent. Prices in Wales and the South West also increased significantly.

"The supply-demand imbalance continues to be the reason house prices are rising so sharply," Russell Galley, Halifax managing director, said.

"Demand is still strong - though activity levels have slowed to be in line with pre-Covid averages - while the stock of available properties for sale remains extremely low."

Looking ahead, the housing market is set to be negatively impacted in the future as inflation and higher interest rates increase pressure on household budgets, Halifax said.

""So while it may come later than previously anticipated, a slowing of house price growth should still be expected in the months ahead," Galley added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Norway Central Bank Hikes Policy Rate By 50 Bps, Hints At September Raise (55 min(s), 22 sec(s) ago)
(RTTNews) - The Norwegian central bank raised its benchmark interest rate further by 50 basis poin ...Full Story»

Philippine Central Bank Raises Key Interest Rate Further (01 hr(s), 01 min(s), 22 sec(s) ago)
(RTTNews) - The Philippines' central bank on Thursday raised its key interest rate again by 50 ...Full Story»

U.S. Leading Economic Index Declines For Fifth Straight Month In July (01 hr(s), 19 min(s), 22 sec(s) ago)
(RTTNews) - A report released by the Conference Board on Thursday showed a continued decrease by i ...Full Story»

U.S. Existing Home Sales Extend Nosedive To New Two-Year Low In July (01 hr(s), 33 min(s), 22 sec(s) ago)
(RTTNews) - Existing home sales in the U.S. showed another significant decrease in the month of Ju ...Full Story»

Mainland Norway Q2 GDP Expands As Expected (01 hr(s), 32 min(s), 22 sec(s) ago)
(RTTNews) - Mainland Norway's economy expanded in the second quarter after contracting in the ...Full Story»

Philly Fed Index Unexpectedly Indicates Return To Growth In August (01 hr(s), 49 min(s), 22 sec(s) ago)
(RTTNews) - After reporting contractions in Philadelphia-area manufacturing activity in the two pr ...Full Story»

U.S. Jobless Claims Unexpectedly Edge Down To 250,000 (02 hr(s), 16 min(s), 22 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Thursday unexpectedly showed a modest pul ...Full Story»

Philly Fed Index Unexpectedly Returns To Positive Territory In August (03 hr(s), 21 min(s), 22 sec(s) ago)
(RTTNews) - After reporting contractions in Philadelphia-area manufacturing activity in the two pr ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Norway Central Bank Hikes Policy Rate By 50 Bps, Hints At September Raise

08/18/2022 - 11:09 AM (RTTNews)
(RTTNews) - The Norwegian central bank raised its benchmark interest rate further by 50 basis poin ...Full Story>>

Philippine Central Bank Raises Key Interest Rate Further

08/18/2022 - 11:03 AM (RTTNews)
(RTTNews) - The Philippines' central bank on Thursday raised its key interest rate again by 50 ...Full Story>>

U.S. Leading Economic Index Declines For Fifth Straight Month In July

08/18/2022 - 10:45 AM (RTTNews)
(RTTNews) - A report released by the Conference Board on Thursday showed a continued decrease by i ...Full Story>>

Mainland Norway Q2 GDP Expands As Expected

08/18/2022 - 10:32 AM (RTTNews)
(RTTNews) - Mainland Norway's economy expanded in the second quarter after contracting in the ...Full Story>>

U.S. Existing Home Sales Extend Nosedive To New Two-Year Low In July

08/18/2022 - 10:31 AM (RTTNews)
(RTTNews) - Existing home sales in the U.S. showed another significant decrease in the month of Ju ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.