Halifax October house prices +0.2% vs +0.2% m/m expected

• Prior +0.3%

House prices in the UK nudged higher again, keeping the positive momentum in recent months. Halifax notes that:

“That house prices have reached these heights again in the current economic climate may come as a
surprise to many, but perhaps more noteworthy is that they didn’t fall very far in the first place.. Following the budget,
markets expect the Bank of England to cut rates more slowly than previously anticipated, which could
keep mortgage costs higher for longer. New policies like higher stamp duty for second home buyers
and a return to previous thresholds for first-time buyers might also affect demand.

“While we expect house prices to keep growing, it will likely be at a modest pace for the rest of this
year and into next.”

This article was written by Justin Low at www.forexlive.com.