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Comment on Halifax HPI (May)

4th June 2010 | back to article listings BACK    print this article PRINT

Stuart Law, Chief Executive of Assetz, on May’s Halifax House Price Index:

“While Halifax has reported a monthly fall in house prices of 0.4% in May, the Assetz House Price Watch, an amalgamation of the five major UK house price indices; Acadametrics, Rightmove, Nationwide, Halifax and the CLG, points to sustained moderate growth. Halifax also report that house prices are 16% below their 2007 peak but the average shows that it is closer to 6.7%. Suggestions by some critics of a slowing market are merely opinion and this is not evidenced in the data as house prices continue to recover.

“The discrepancy between Halifax and Nationwide’s figures, also released this week, can be put down to their small data sets. Halifax and Nationwide represent mortgages at the lower end of the market which are likely to have been the most affected over the last few years, impacting on their figures and the small volumes of transactions they record are leading to volatility in individual monthly data.

“As lenders continue to increase the number of mortgage products available and improve rates and loan-to-values, the market will continue to creep forwards and I would still expect to see a modest growth of 5% by the end of the year.”


This is a press release by Assetz also available at http://press.assetz.co.uk/articles/5143.html. Alternatively, please see our full press release archive.

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