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Second Monthly

House prices increased for a second consecutive month in August, says Halifax…

Halifax House Price Index August 2009: Key Findings

 

 - House prices increased by 0.8 per cent in August. This was the second successive monthly rise and the fourth in the first eight months of 2009.

- Annually, house prices in August were 10.1 per cent lower than Augsut 2008 – the smallest yearly decline since July 2008 (-8.8 per cent).

- House prices in the three months to August compared to the previous three months were 1.7 per cent higher. This is the biggest increase on this underlying basis since July 2007.  

- Prices were largely unchanged over the first eight months of 2009 as a whole. The average house price in August was £160,973 compared to £160,861 in December 2008.

- Nationally, typical mortgage payments for a new borrower have fallen from a peak of 48 per cent of average disposable earnings in 2007 Q3 to 29 per cent in August 2009.

- Notably, mortgage payments relative to earnings are now below the long-term average of 35 per cent recorded over the past 25 years.

- Housing market activity continues to improve, but remains less than half the level in mid 2007.

- Approvals were 53 per cent higher than in July 2008, at 50,123, but were 55 per cent lower than in July 2007 (112,446).

 

View the Halifax House Price Index August 2009

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