Jump to content
The Twitter Feeds are now back on the Platform ×

GBP, FTSE 100 down as Halifax sees biggest monthly house price drop since June 2021


Recommended Posts

UK house prices have fallen in three out of the last four months, according to the Halifax house price index. It comes as pressure builds across the UK economy, showing up in a drop in sterling.

 

 Jeremy Naylor | Writer, London | Publication date: Monday 07 November 2022

UK house prices fall

There’s more evidence today of a slowdown in UK house prices, according to the Halifax House Price Index out today.

It fell by a margin of 0.4% in October month-on-month (MoM). It was the second month in a row where there was an easing in prices across the UK, taking the monthly drop to the lowest since June 2021.

Last month in September, the Halifax said that house prices fell marginally down by 0.1% of the market despite further signs of a slowdown.

Much of this has a lot to do with affordability. Affordability is all about how much people take mortgages against what they can afford in terms of their wages.

GBP

Let's take a look at what's happened with sterling. It's a well-trodden path now about the way in which this has all been reported with this drop. Sterling down to the 10330 level during the darkest days of the last government where we saw Kwasi Kwarteng’s fiscal statement wanting to try and find ways to boost the economy and failing spectacularly.

We have since seen a recovery for sterling. In today's trade we've got sterling down from the highs we had on Friday. That high we had on Friday was boosted by the weakening US dollar. So much of what's happening for sterling is all about the dollar.

But in today's session, this pullback in the housing market really does display the frailties, I think, within the house price of the property sector particularly, and house prices in the way that house prices seem to be moving at the moment.

And there's a lot of speculation that we could see further lower low prints for these house price indices, not just Halifax but also from the nationwide sector that could add extra pressure to sterling.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,697
    • Total Posts
      92,062
    • Total Members
      41,982
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    mixer50x350
    Joined 31/03/23 21:31
  • Posts

    • Hello everyone, i am looking to hold shares long term Apple Tesla in a spreadbetting account just wounded if there is a calculation example Tesla $195.00 1 share = ? ponds per point spread bet. Thanks for any help
    • #USDCAD: Time For PullbackUSDCAD reached a key level.Testing that, the price broke and closed above the resistance line of a falling wedge pattern.I expect a pullback now.Goals: 1.355 / 1.3577  
    • Charting the Markets: 31 March The FTSE 100, DAX 40 and Nasdaq 100 surge higher on a positive outlook as EUR/USD, GBP/USD pause their ascents while USD/JPY continues to rise as the greenback appreciates. WTI remains capped by resistance, gold forms a technical triangle as Robusta coffee trades near six-month highs.   Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 31 March 2023                 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
×
×
  • Create New...