Based on the Halifax mortgage lender, residence costs in the UK have seen the slowest progress in additional than six years.
Values had been up 1.1% in September over the earlier yr, the smallest improve since April 2013, the mortgage lender stated in a report launched on Monday. On a month-to-month foundation, costs fell by zero.four%, bringing the common worth to 232,574 kilos ($ 286,000).
That is the most recent report displaying the shadow that Britain has misplaced during the last three years within the UK actual property market. However, regardless of political uncertainty, low rates of interest and better wage progress stop a extra pronounced slowdown.
"Although it’s the lowest stage of progress since April 2013, it stays according to the pattern of stagnant stagnation seen in latest months," stated Russell Galley, Normal Supervisor of Halifax.
"Sooner or later, we count on that exercise ranges and worth progress will stay reasonable as the present interval of financial uncertainty persists."