Halifax’s latest index shows that annual house price growth has slowed to 0.3% while the average house price in the UK is now £224,578.
Says Russell Galley, Halifax MD: “High employment, wage growth and historically low mortgage rates continue to make home ownership more affordable for many, though the need to raise a significant deposit still acts as something of a restraint on the market. This is largely offset by relatively limited supply of new and existing properties for sale, which continues to sustain house prices nationally.”
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