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- UK house prices rose 3.8% on year. GBP/USD unchanged
UK house prices rose 3.8% on year. GBP/USD unchanged
House prices in the three months to April were 3.8% higher than in the same period a year ago; the same as in March.
Prices in the three months to April were 0.2% lower than in the preceding quarter.
Martin Ellis, Halifax housing economist, said: "House prices have stagnated over the past three months. Overall, prices in the three months to April were marginally lower than in the preceding three months; the first quarterly decline since November 2012. The annual rate of growth remained at 3.8% in April, the lowest rate since May 2013. "Housing demand appears to have been curbed in recent months due to the deterioration in housing affordability caused by a sustained period of rapid house price growth during 2014-16. Signs of a decline in the pace of job creation, and the beginnings of a squeeze on households' finances as a result of increasing inflation, may also be constraining the demand for homes.
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