MNI DATA ANALYSIS: UK House Price Growth Fairly Stable:Halifax

--Halifax UK Dec House Prices: 2.2% m/m; -0.4% 3m/3m; 1.3% 3my/y

     LONDON (MNI) - UK house price inflation stood at 1.3% on a 3M Y/Y basis in

December, accelerating from November's 0.3% annual growth rate, according to

data from Halifax, the UK's leading mortgage provider.

     The more volatile monthly numbers showed house price growth rising by 2.2%

in December after a 1.2% fall in November. On a quarterly basis, house prices

dropped by 0.4% in the October-December period relative to July-September.

     "A stronger monthly growth figure for December reversed a weak November

figure, monthly fluctuations are common, leaving the annual figure very firmly

in the range of 0-3% as we forecast at the start of the year", said Russell

Galley, Managing Director at Halifax Community Bank.

     -- BREXIT THREATENS CONTINUED STABILITY

     "In 2019, we're expecting continued stability in house prices with between

2% and 4% price inflation. This is slightly stronger than 2018, but still fairly

subdued by modern comparison. However, this expectation will clearly be

dependent on the Brexit outcome, with risks to both sides of our forecast."

     -- SALES TRENDING LOWER

     The number of homes for sale continues to trend lower. The New Buyer

Enquiries gauge in the November 2018 RICS UK Residential Market Survey dropped

to -21% from -15%, while the Newly Agreed Sales net balance declined to -15%

from -10% previously, suggesting a decline in national sales transactions.

Meanwhile, the latest Bank of England Money and Credit data showed mortgage

approvals falling to their lowest rate in November since April 2018.

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

--MNI London Bureau; +44 203 865 3829; email: jason.webb@marketnews.com

--MNI London Bureau; +44 207-862-7489; email: ukeditorial@marketnews.com

[TOPICS: MABDS$,M$B$$$,M$E$$$,MT$$$$]