British House Price Growth Hits 6-year Low
Sumaira FH Published December 07, 2018 | 10:04 PM
British house price recorded a growth of 0.3 percent in the three months to November, the slowest over the last six years, according to data released Friday by Halifax, a British bank.
"This is the lowest rate of growth in six years," said Russell Galley, managing director of Halifax, adding that "it remains within our forecast range of 0 percent to 3 percent for 2018." According to the report of house price index, the annual growth rate of property price was 1.5 percent in October.
Regarding the quarterly figures, the latest September-November quarter growth rate was 1.1 percent, also lower than the previous three months.
On a monthly basis, the average house price in November dropped by 1.4 percent to 224,578 Pounds, which kept the quarterly decline.
Russell noted that Britain's house buyers were still affordable for the variety of purchases due to high employment, wage growth and historically low mortgage rates, though a huge deposit was the main restraining factor.
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 April 2024
Today Gold Rate in Pakistan 28 April 2024
Fresh wave of rainfall in AJK continues for the second consecutive day
Babar, bowlers help Pakistan level series 2-2 against New Zealand
Attack in restive Chilean province leaves three police officers dead
PM, Saudi Royal court advisor discuss ways to boost economic ties
England clinch third successive Women's Six Nations Grand Slam
DC Bahawalnagar leads fight for fair bread prices
Sheffield Utd relegated from Premier League
02 proclaimed offenders arrested by Wah Police
Pakistan level T20I series with nine-run victory over New Zealand
Minister meets Chinese Consul General, discusses bilateral cooperation, Chinese ..
More Stories From Business
-
PSMA for early decision regarding sugar export
11 hours ago -
Experts propose policy reforms for economic revival
12 hours ago -
Rice exporters organize medical camps for agri-families, farmers
14 hours ago -
Two-day 'Tashkent International Investment Forum' to start on May 2
15 hours ago -
Customs team lauded for seizing mis-declared containers
17 hours ago -
PFC sends budget proposals to ministries, FBR: Mian Kashif
18 hours ago
-
3rd Pak-Kyrgyzstan Investment Conference to be held in May
18 hours ago -
NPO to organize workshop on ‘mastering talent acquisition: strategies for success'
18 hours ago -
China's e-commerce logistics index rises in March
19 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 April 2024
23 hours ago -
Today Gold Rate in Pakistan 28 April 2024
23 hours ago -
Cotton to be sown on 4m acres this year
1 day ago