Halifax: UK house price data adds to signs of property revival
British house prices rose a second consecutive month in November, according to Halifax. IGTV's @AngelineOng looks at why the latest numbers from the mortgage lender shows the fall in UK house prices is bottoming out.
(Video Transcript)
UK house prices keep on rising
Now on to housebuilders because we've had those numbers from Halifax, with the Halifax's house price index rising more than forecast in November by half a percent month-on-month. Economists had anticipated a 0.3% rise.
Now, this is the second monthly rise in a row after a 1.2% increase in October. House prices were 1% lower than a year earlier, a slower decline than October's annual fall of 3.1%. The survey notes that this increase is due to the shortage of properties available rather than any significant strengthening of buyer demand.
Persimmon, Taylor Wimpey shares up slighytly
Now, rival mortgage lender Nationwide reported last week that house prices on its measure rose for a third month in a row in November and were 2% lower than a year earlier. So these numbers from Halifax bolster that change of light for UK property prices after pretty much a whole year in the doldrums.
Just showing you the chart here to see whether there's any reaction for the UK housebuilders: we've got Persimmon up here and it's up ever so slightly, just 17% there. Let's just check on Taylor Wimpey as well... up slightly more around half.
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