Latest data released by Halifax Bank of Scotland - 8 January 2018
- Prior m/m +0.5%; revised to +0.3%
- Halifax HPI 3m/y +2.7% vs +3.3% expected
- Prior 3m/y +3.9%
According to Halifax, the housing market in 2017 followed a similar pattern to the previous year. House price growth slowed, whilst building activity, completed sales and mortgage approvals for house purchase all remained flat. This has been driven by a squeeze on real wage growth and continuing uncertainty over the economy.
Not a very positive reading, the first fall since June 2017. But then again, previous month's quarterly reading was the fastest growth since January - so it's difficult to see it go higher from there. The average house price recorded in the measure is £225,021.
GBP/USD is trading at 1.3539 - lower on the day due to strength in the dollar. EUR/GBP is trading nearly unchanged at 0.8860.
