House prices hit new record in July as growth picks up - Halifax

09 August, 2018, 12:40 | Author: Regina Silva
  • The average price of a house in Britain is now £230,280 according to Halifax

The pace of the rise has confounded many economists, who had expected it to be 2.7 per cent, according to a Reuters survey.

This leaves the average house price at its highest on record - £230,280.

On a monthly basis, prices rose by 1.4pc in July, while quarterly prices were 1.3pc higher than in the preceding three months, the fastest quarterly increase since November.

A bounce in volatile monthly figures added £3,253, or 1.4 per cent, to the cost of the average home and saw annual house price inflation accelerate from the 1.8 per cent seen in June.

British house prices spiked in July, despite other signs of softness in the market, mortgage lender Halifax said on Tuesday.

United Kingdom home sales fell by three per cent in June, with the figure for the three months to June unchanged compared to the previous quarter.

Lord Pickles Backs Calls For Boris To Apologise Over Burka Remarks
Latin-spouting, tousle-headed Johnson is a former mayor of London and one of Britain's best-known politicians. Mohamed Sheikh, founder of the Conservative Muslim Forum, called on Mr Lewis to take "serious action".


Two hurt as Israel's Al-Mujahedeen hits Gaza with drone
A spokesman said any deal risked ending hopes of achieving Palestinian statehood. Israel's Defence Ministry described the barrier as "an impenetrable breakwater".


Brad Pitt fires back at Angelina Jolie's child support claims
It also mentioned that despite the informal arrangement made between the couple, "payments had not been regularly sustained". The Hollywood power couple had been together for 12 years and married for two when she filed for divorce in 2016.


Mike Scott, chief property analyst at estate agent Yopa, said the increase in prices does not reflect an increase in market activity, with both buyer and seller numbers remaining subdued.

The rise comes just days after the Bank of England raised interest rates from 0.5 to 0.75 per cent.

August's figures will be the first to reflect the impact of the base rate rise.

Russell Galley, managing director at Halifax Bank, said: "Pressures on household finances are easing as growth in average earnings continues to rise at a faster rate than consumer prices".

'It is nearly as if the north/south divide is working in reverse with more activity outside rather than inside the capital, ' he added.

"The modest momentum could also be given a short-term boost by last week's increase in interest rates, which, rather than cooling the market, may spur previously hesitant buyers into action during the typically busy "back to school" season next month". Many usual voices will be quick to highlight a "lacklustre property landscape", but the highest increase in prices since November speaks for itself and is still palatable, if not absolutely ideal for both camps. "Prices are up annually and while a slightly tired market hasn't narrowed the unaffordability gap over the past year or two, it has at least stalled it from widening somewhat" he says.

Recommended:

  • Warner Bros. Reportedly Interested In James Gunn After Disney Firing

    Warner Bros. Reportedly Interested In James Gunn After Disney Firing

    Gunn was again fired on July 20 after crude and offensive jokes from years past were unearthed by conservative political adversaries of Gunn.
    Citi Open: Defending champion Alexander Zverev returns to final

    Citi Open: Defending champion Alexander Zverev returns to final

    Zverev joined a list of back-to-back Washington champions that includes Andre Agassi, Michael Chang and Juan Martin del Potro . Rublev beat local product Denis Kudla , a Junior Tennis Champions Center, 6-1, 6-4 before losing in three sets to de Minaur.
    City Council vote on ride-share cap

    City Council vote on ride-share cap

    The New York Taxi Workers Alliance, an 18,000-member union representing the city's taxi drivers, hailed the council's vote as a victory.
  • IDF Responds After Dozens of Gaza Terror Rockets Fired at Israel

    IDF Responds After Dozens of Gaza Terror Rockets Fired at Israel

    Residents of Israeli communities near the Gaza border were instructed on Wednesday night to remain near protected spaces. Also Wednesday, Palestinians opened fire at civilian work crews working along the northern section of the Gaza Strip.
    Rare

    Rare "Firenado" Erupts As Firefighters Battle Factory Blaze

    The Fire and Rescue Service posted the footage to its Facebook page after the fire was extinguished. The company said the fire was in an outside area which had been "completely gutted".
    First Red Dead Redemption 2 Gameplay Trailer Takes Aim Tomorrow

    First Red Dead Redemption 2 Gameplay Trailer Takes Aim Tomorrow

    After a robbery goes wrong in the town of Blackwater, Arthur Morgan and the Van der Linde gang are forced to flee. Tomorrow's video should give us our first look at actual gameplay , including any new systems or features.
  • How To Use Alexa's Answer Update

    How To Use Alexa's Answer Update

    Editor Bret Kinsella said he first encountered the feature on Monday when Alexa asked if he wanted to enable it. Hopefully, this kink will be worked out in the coming weeks, as Amazon continues testing the feature.
    Scientists racing to find, save young killer whale

    Scientists racing to find, save young killer whale

    She was the first orca to be rescued, rehabilitated and successfully released back into the wild. However, if things go well, J50 might receive further treatment of salmon laced with medication.
    Man City fullback Kyle Walker: The manager wants to go for everything

    Man City fullback Kyle Walker: The manager wants to go for everything

    Scudamore, who will end a 19-year tenure in December , added: "I'd like someone to get a little bit closer to Manchester City ". Pep Guardiola's side are the bookmakers' favourites to triumph once again and it's not hard to understand why.
  • Fourth Suspect in XXXTentacion Murder Arrested

    Fourth Suspect in XXXTentacion Murder Arrested

    Robert Allen, Dedrick Devonshay Williams and Michael Boatwright, all 22, were arrested earlier in connection with the case. He surrendered at his lawyer's office and was booked on charges of first-degree murder and robbery with a deadly weapon.
    Xiaomi Mi A2 4GB variant launched at Rs 16999 in India

    Xiaomi Mi A2 4GB variant launched at Rs 16999 in India

    According to early revelations, the 4GB RAM and 64GB storage of the model will be ideal as the entry point for the new model. The successor of Xiaomi Mi A1 comes loaded with a metal design and it employs the 18:9 tall display .
    Logano wins third Xfinity race in four years

    Logano wins third Xfinity race in four years

    I know we can do it. "I'd come with my dad and now I'm bringing my kids", said Dane Schuster, alongside his sons, Jake and Tyler. This is what we need, to run top five every week, and if we continue to do this, I'm going to be a happy boy".


Popular

Apple, Facebook Clamp Down on 'Hate Speech'
Paul Joseph Watson, who wrote about the removal on InfoWars , also called it part of a "culture war" in a tweet on Monday morning. Jones, who has a verified Twitter account with 825,000 followers, had not addressed Apple's action by early Monday.

Chelsea sign goalkeeper Kepa Arrizabalaga for world-record £71m fee
Athletic confirmed earlier on Wednesday that Arrizabalaga's representatives deposited his buy-out clause at La Liga's offices. Kepa told the club's website "It's a very important decision for me, for my career, and also for my personal life".

Manafort's former tax accountant fired by firm after testimony
Gates, a married father of four, faced tough questioning under cross-examination on Tuesday about leading a "secret life". He has pleaded not guilty to 18 counts of bank fraud, tax fraud and failing to disclose foreign bank accounts.

'Superman' star Margot Kidder died from 'self-inflicted drug and alcohol overdose'
Kidder is best known for playing intrepid reporter Lois Lane opposite the late Christopher Reeve in 1978's Superman . But on Wednesday the Park County Coroner's Office in Montana, where she lived, revealed that the cause was suicide.

Britain 'Ready To Ask' Russia To Extradite Suspects In Skripal Poisonings
Russian Federation has angrily rejected any involvement, plunging diplomatic relations into crisis. And the query would worsen the diplomatic row between Britain and Russian Federation .

‘Fix PUBG’ campaign has started to, well… you can probably guess
But when that game is a competitive free-for-all, cheaters take a massive toll on the fun more honorable players have. Last week, PUBG Corp. issued a statement about when we could see the next map drop on Xbox One consoles, too.

Persied meteor shower peaks this weekend
The Perseid meteor shower may be an annual event, but it's such an exciting celestial show that it's always worth another look. The Perseids will be most visible in the Northern Hemisphere and clearest during pre-dawn hours, according to NASA .

Apple iPhone X Plus Might Feature iPad-like Landscape Mode
Taken using emulators running the latest iOS 12 beta, we can now see how different apps function on the larger iPhone X . But in a new report on Taiwan's United Daily News has claimed that its Dual-SIM option could be limited to China.

How to watch the 2018 Perseid meteor shower
This year's show is predicted to be an "average" show by Perseid standards, with as many as 50-60 meteors per hour at peak. The comet that left the Perseid meteor stream is a piece of dirty ice about 26km in diameter called 109P/Swift-Tuttle.

Blizzard has 'multiple Diablo projects in the works'
Trust me when I say the team here is now crossing all crossable appendages regarding that potential tidbit of news. So whether you first joined us in Diablo 3 or you are a seasoned veteran, thank you.