UK House Prices Increases Likely to Slow This Year

Growth in British house prices picked up speed for the second month in a row in December, helped by a shortage of homes to buy, but price increases are likely to slow in 2017, mortgage lender Halifax said on Monday.

House prices have risen more slowly since the shock decision by voters in a referendum last June to leave the European Union but surveys by Halifax and rival lender Nationwide have shown them holding up in late 2016.

The resilience has confounded the warnings of former finance minister George Osborne, one of the leading voices in the defeated “Remain” campaign to keep Britain in the EU, who said in May that house prices would fall by between 10 and 18 percent if the country voted to leave the bloc.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.