MNI DATA ANALYSIS: UK House Price Gains Decelerate: Halifax

--Halifax UK Sep House Prices -1.4% m/m; +1.8% 3m/3m; +2.5% 3my/y

     LONDON (MNI) - UK house price inflation moderated in September, with

year-on-year growth dropping down to 2.5% from 3.7%, according to data from

Halifax, the UK's leading mortgage provider.

     The more volatile monthly numbers showed house price growth declining by

1.4% in September.  On a quarterly basis, house prices rose 1.8% in the

July-September period relative to April-June. 

     "We are seeing a steadying in house price inflation across these more

stable measures. This is set amongst mortgage approvals and completed house

sales remaining broadly unchanged, although a gradual pickup in wage growth has

helped to support household finances," said Russell Galley, Managing Director at

Halifax Community Bank.

     The number of homes for sale continues the trend of being low, with 2018

seeing the lowest recorded number of homes for sale for any year in the past

decade, the Royal Institution of Chartered Surveyors' (RICS) monthly report

showed.

     The Halifax data mirrored data released by the Nationwide earlier in the

week, which showed UK house prices higher by 2.0% y/y.

--MNI London Bureau; +44 203 865 3828; email: jai.lakhani@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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