Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The average cost of a residential property rose to a fresh high in August, the Halifax said Tuesday, but noted that annual price gains continue to slow, with London prices continuing to lag behind the rest of the country. The Halifax said gains continue to be seen in most areas, despite the tapering of stamp duty relief, a move that had certainly slowed transaction levels in the second half of the summer.
However, many of the reasons behind the rise in prices remain structural, the Halifax said, with managing director Russel Galley saying the "trends look set to persist and the price gains made since the start of the pandemic are unlikely to be reversed once the remaining tax break comes to an end later this month."
According to the Halifax, prices rose 0.7% m/m in August and 7.1% y/y, with the average price of a house now at GBP262,954. In a recent interview with MNI, former BOE MPC member David Miles warned on the valuation of UK property prices.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.