City AM earlier in the week carried the story that the Halifax House Price Index noted a 0.8% decline in house prices in March.
The slowdown means that property prices have grown by just under 10% in the past year. Not too drastic but is it a sign of a bigger slowdown?
Martin Ellis, Halifax housing economist, said in the article: “Current market conditions remain very tight as the severe imbalance between supply and demand persists. This situation, combined with low interest rates and rising employment and real earnings, should continue to push house prices up over the coming months. Weakening sentiment regarding house price prospects and a dip in consumer confidence, however, suggest that annual house price growth may ease.”
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