![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Halifax 9.375bd | LSE:HALP | London | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.375 | 0.26% | 147.125 | 142.25 | 152.00 | 147.125 | 146.75 | 146.75 | 0 | 11:10:37 |
RNS Number:2259L HBOS PLC 08 January 2008 Halifax House Price Index National Index December All Houses, All Buyers Index (1983=100) Index (seasonally adjusted) 637.7 Monthly Change 1.3 Annual Change 5.2 Standardised Average Price (seasonally adjusted) £197,039 Key Points * House prices increased by 1.3% in December following three successive monthly falls. Prices in Quarter 4 were marginally lower than in Quarter 3, down -0.8%. House prices in December were 5.2% higher than a year earlier with the average price of a home in the UK increasing by £11,759 over the year to £197,039. * The annual increase of 5.2% made 2007 only the second year since 2001 when prices have risen by less than the long-term average of 8%. * A mixed pattern of monthly price rises and falls - as seen over the past few months - typically characterises a subdued housing market. For example, there were six monthly falls and six monthly increases between July 2004 and June 2005 as the market slowed in response to a series of interest rate rises during 2004. There was a similar pattern in 2000. * We predict that house prices will be flat in 2008. A slower housing market must be taken in context, however. House prices have risen by 182% over the past ten years from an average price of £70,000 at the end of 1997 to £197,000 today. * Sound economic fundamentals will support house prices in 2008. The economy is in good health; employment levels are high. The UK economy is expected to deliver its 65th successive quarter of GDP growth during 2008, extending the longest running period of unbroken growth on record. No other developed nation can match this performance. * The Bank of England is expected to follow last month's interest rate cut with further reductions over the coming months in order to prevent anything more than a gradual economic slowdown. The MPC is likely to cut the Bank Rate at least twice in 2008. Lower interest rates will help to support the housing market. Commenting, Martin Ellis, chief economist, said: "House prices increased by 1.3 per cent in December, reversing some of the declines recorded in the preceding three months. This mixed pattern of monthly price rises and falls is a typical characteristic of a subdued market. Overall, the housing market continued to slow in the final quarter of 2007 with prices slightly lower than in the preceding quarter. Higher mortgage repayments in response to the series of five interest rate increases between August 2006 and July 2007 and falling real earnings have put pressure on households' income, resulting in a slowdown in both house price growth and activity in recent months. Sound economic fundamentals and lower interest rates will support house prices in 2008. The UK economy is expected to deliver its 65th successive quarter of GDP growth during the year, extending the longest running period of unbroken growth on record. The MPC is likely to follow up last month's cut by reducing the Bank Rate at least twice in 2008. House prices are predicted to be flat during 2008." Prices in the final quarter of 2007 were marginally lower than in the third quarter House prices in Quarter 4 were 0.8% lower than in Quarter 3. House price growth maintained a steady downward trend during 2007. There was a strong start to the year with prices rising by 2.9% between 2006 Quarter 4 and 2007 Quarter 1. The quarterly rate of increase eased during the succeeding quarters of the year. A mixed pattern of monthly price rises typically characterizes a more subdued market For example, there were six monthly falls and six monthly increases between July 2004 and June 2005 as the market slowed in response to a series of interest rate rises during 2004. There were also five monthly falls during 2000 as annual house price inflation eased from 15% in February 2000 to 2.5% in February 2001. Average price of a home rose by £11,759 during 2007 House prices increased by 5.2% during 2007. The average price of a home in the UK increased by £11,759 over the year from £185,280 to £197,039. The annual increase of 5.2% made 2007 only the second year since 2001 when prices have risen by less than the long-term average of 8%. A robust economy and high employment provide strong underpinnings for the housing market The latest figures confirm that gross domestic product (GDP) increased by 0.7% between 2007 Q2 and 2007 Q3. This was the eighth consecutive quarterly increase above the long-term average rate of 0.6%. (Source: ONS) The UK economy is expected to deliver its 65th successive quarter of GDP growth during 2008, extending the longest running period of unbroken growth on record. No other developed nation can match this performance. But economic growth is likely to slow to below its long-term average pace in 2008 The UK economy is nonetheless forecast to slow with growth of 2.0%-2.25% in 2008 compared with around 3.0% in 2007. The long term average rate is 2.5%. Domestically, both consumer and investment spending growth are likely to moderate in response to earlier interest rate rises and some tightening in credit availability. In 2008 global economic growth is likely to slow, reflecting a weaker US economy constrained by the sub-prime lending crisis. Employment to stay at a record high in 2008 The number of people in employment increased by 114,000 during the three months to October compared with the previous quarter. On an annual basis, employment was 226,000 higher at 29.29 million. (Source: ONS) Employment levels - a key driver of housing demand - will stay at a record high despite the expected slowdown in economic activity this year. Further rate cuts expected in 2008 We expect the Bank of England to cut rates again over the coming months to insulate the economy from anything more than a gradual economic slowdown. We predict that the MPC will cut the Bank Rate at least twice in 2008. This information is provided by RNS The company news service from the London Stock Exchange END MSCFGGGMDNMGRZM
1 Year Halifax 9.375bd Chart |
1 Month Halifax 9.375bd Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions