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UK House prices surge unexpectedly in December - Halifax

Infra News - Published on Fri, 11 Jan 2019

Image Source: Mortgage Solutions
Reuters quoted mortgage lender Halifax as saying that British house prices rose more than expected in December but the property market remains subdued ahead of Brexit. House prices rose 2.2 percent, more than reversing a 1.2 percent fall in November and outstripping all forecasts in a Reuters poll of economists that had pointed to a 0.2 percent increase.

On an annual basis, prices rose 1.3 percent in the three months to December, again topping all forecasts that pointed to a 0.4 percent rise.

Still, with other surveys and official data mostly showing a slowing housing market, Halifax cautioned against reading too much into the strength of a single month's figures.

Mr Russell Galley, managing director of Halifax, said that "In 2019, we're expecting continued stability in house prices with between 2 percent and 4 percent price inflation. This is slightly stronger than 2018, but still fairly subdued by modern comparison. However, this expectation will clearly be dependent on the Brexit outcome, with risks to both sides of our forecast."

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Posted By : Joykumar Irom on Fri, 11 Jan 2019
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