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Monday, October 07, 2019
British house price growth hits six-year low in September: Halifax
Xinhua

The average house prices across Britain rose by 1.1 percent in September, compared with the same month one year ago, recording the lowest growth rate since April 2013, according to mortgage lender Halifax on Monday.

Halifax's house price index showed that the average house prices across Britain in September was 232,574 pounds (about 286,218 U.S. dollars), falling by 0.4 percent from a month earlier.

On a quarterly basis, the house prices in the latest quarter, from July to September, increased by 0.4 percent than in the preceding quarter.

Russell Galley, managing director at Halifax, said: "Annual house price growth slowed somewhat in September, rising by just 1.1 percent over the last year. Whilst this is lowest level of growth since April 2013, it remains in keeping with the predominantly flat trend we've seen in recent months."

"Underlying market indicators, including completed sales and mortgages approvals, continue to be broadly stable. Meanwhile for buyers, important affordability measures, such as wage growth and interest rates, still look favourable," Galley said.

"Looking ahead, we expect activity levels and price growth to remain subdued while the current period of economic uncertainty persists," Galley added. (1 pound = 1.23 U.S. dollars)

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