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12/7/2017, 9:38 AM (Source: TeleTrader)
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UK's annual housing price growth slows to 3.9%

Even though the index of house valuations strengthened in the three months through November, showing 2.4% or the strongest growth pace since January, the year-over-year gauge eased to 3.9% from the level of 4.5%, measured one month before. The update released on Thursday by Halifax noted the increase in the quarter through October was 2.3%. The monthly change was 0.5% to the upside, against 0.3% from the prior survey.

The lender revealed the standardized average price of a home reached £226,821, increasing for the sixth consecutive month. "The imbalance between supply and demand continues to support house prices, which doesn’t look like changing in the near future... We do expect the government's first-time buyer stamp duty changes to provide some stimulus to demand, particularly in London and the South East, where the impact is greatest," said Russel Galley, managing director in Halifax Community Bank. However, he warned the wage squeeze may emerge as a barrier to demand.

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