Mortgage Advice Bureau : Halifax House Price Index October 2019

Brian Murphy, Head of Lending for Mortgage Advice Bureau, said:

'This morning's report from Halifax corroborates what we've seen from other indices in the last couple of weeks, which is that annualised house price growth at a headline level is slowing but remains in positive territory, whilst average prices decreased slightly between August and September.

It's not a stretch to suggest that the ongoing political and economic turbulence may be causing some buyers to hold back on their plans, meaning that sellers who need or want to move are being more pragmatic about their sales price in order to agree a deal at the moment. However, that's not the case in all regions, as the Midlands, Yorkshire and the Humber and Wales are still seeing transaction levels and price growth remain consistent due to buyer demand.

Once certainty around our EU exit timetable is known - one way or the other - it's widely anticipated that those would-be home movers who are currently 'waiting to see' will take decisive action. Generally, the property market tends to see traction increase overall in the Autumn as it's traditionally one of the busier months of the year for movers; whether or not we'll see a 'Brexit Bounce' in November, however, remains to be seen.'

To read the full Halifax report, click here.