World Markets

UK house prices pick up in early 2019, but outlook subdued -Halifax

Reuters

LONDON, April 5 () - British house price growth cooled in the first three months of 2019 in annual terms and the outlook is likely to remain subdued, given Brexit uncertainty and high property prices, mortgage lender Halifax said on Friday.

Compared with the same period of last year, prices rose by 2.6 percent, slower than a rise of 2.8 percent in the three months to February.

A poll of economists had pointed to an annual rise of 2.3 percent for the first quarter.

But Britain's housing market remains weak, especially in London, as Prime Minister Theresa May struggles to find a way to leave the European Union with a transition deal to cushion the shock to the economy.

Shortly before the Brexit referendum in 2016, house prices were rising by about 10 percent a year, according to Halifax.

The lender said that prices in March, in monthly terms, fell by 1.6 percent after jumping by 6.0 percent in February.

Halifax's index has tended to be more volatile than other measures of house prices of late.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Economy

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More