HomeOwners Alliance logo

Sign up to our newsletter for the latest property news, tips & money saving offers

  • Can I move during local lockdown? Read latest advice

House prices slump in October

Prices fell 0.7% last month according to the Halifax index

House prices continued to fall for the fourth month on the trot, sliding a further 0.7% in October according to the Halifax price index. House prices now stand at an average of £158,426. This represents and overall fall of 2.8% for the last year. Despite being officially out of recession Britain’s economic outlook is still bleak as the economy struggles and a worsening of the Eurozone crisis seems likely.

Halifax economist Martin Ellis said: “Signs of a modest deterioration in the trend in house prices continued in October. The weak economic background has been a key factor dampening housing demand this year. Recent encouraging developments relating to the level of overall economic activity and conditions in the labor market, however, may help to support demand and underpin house prices around current levels over the coming months.”

Leave a comment* Required

  1. No comments yet.
close popup ×

Make the most of your home this Autumn.

Sign up to our free newsletter this October for your chance to win a £50 John Lewis voucher. With their extensive home and garden collections you'll be spoilt for choice. For the latest news, advice and exclusive money saving offers.

Prize draw to win voucher offer ends 31st October 2020.
Read our privacy policy