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Halifax says annual house price inflation slows to lowest growth so far this year

Average house prices were £232,249 in October, Halifax has reported.

The lender said this brought annual inflation to 0.9%.

Halifax managing director Russell Galley said: “Average house prices continued to slow in October, with a modest rise of 0.9% over the past year. While this is the lowest growth seen in 2019, it again extends the largely flat trend which has taken hold over recent months.

“A number of underlying factors such as mortgage affordability and wage growth continue to support prices, however there is evidence of consumers erring on the side of caution.

“We remain unchanged from our view that activity levels and price growth will remain subdued while the UK navigates economic uncertainty.”

The Halifax, which has recently changed how it calculates prices after criticism that its indices were out of sync with others, is still at odds with Nationwide, which also bases its numbers on mortgage approvals.

Nationwide puts the average house price in October at £215,368, saying that annual house price inflation was 0.4%.

By ROSALIND RENSHAW

Source: Property Industry Eye

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Annual house price inflation stutters at under 1% for 11th month in a row

Annual house growth is just 0.4%, Nationwide has reported.

It puts the average house price at £215,368, only marginally ahead of September’s figure of £215,352.

Nationwide chief economist Robert Gardner said that annual house price inflation has been at under 1% for the 11th month in a row.

On average, house prices have risen by around £800 in the last 12 months, which he said was a “significant” slowing compared with the previous year.

In the same period to October 2016, prices increased by £9,100.

By ROSALIND RENSHAW

Source: Property Industry Eye