- Prior -2.3%; revised to -2.4%
- House prices +2.0% y/y
- Prior +4.7%; revised to +4.6%
UK house prices continues its downtrend towards the end of last year, with the typical UK property now costing £281,272 - down from £285,425 in November. Halifax notes that:
"We saw rapid house price growth during the first six months, followed by a plateau in the summer before prices began to fall from September, as the impact of cost of living pressures, coupled with a rising rates environment, began to take effect on household finances and demand.
“These trends need to be viewed in the context of historic prices. The cost of the average home remains high – greater than it was at the start of 2022 and over 11% more than house prices at the beginning of 2021."
/GBP