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House prices up 0.1% in May

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  • House prices up 0.1% in May

    The Halifax reports house prices levelling out, rising just 0.1% in May:

    May's rise was markedly below the 2.0% increase recorded in April. The annual rate of price increase stands at 9.1%.

    "There are signs that housing market activity may be beginning to level out," Martin Ellis, Halifax chief economist, said.

    Significantly higher household bills and rising unemployment lie at the heart of the slowdown, Halifax said.

    The bank pointed to a number of key indicators of a slowing housing market.

    These included Bank of England figures showing a fall in the number of new mortgage approvals, and a survey from the Royal Institution of Chartered Surveyors which found the number of agreed property sales were virtually unchanged.

    The 0.1% rise recorded by the Halifax is in line with the latest survey from the Nationwide Building Society's survey which said that prices rose by 0.2% in May.
    The actual Halifox figures come from here:

    and regional prices are covered here:

    However, what I find really frustrating is that Scotland is treated as a single region, which completely masks variations within Scotland itself.

    Looking at the Scottish property markets recently, I can't help but be given the impression that the market has peaked in Invernessshire, but in Clackmannanshire it's still strong.

    Would love to see a better regional breakdown for within Scotland.

  • #2
    Added: found these spreadsheet figures, but still poor reporting on Scotland, though: